FT: I-Banks Abandoning Hong Kong Hubs—Korea to Gain?
by Brendon Carr
Of course not! I was tantalized by the headline, and the possibility that the Korean government’s financial hub plan was finally going to show some results.
But it turns out that the banks are merely decamping to a cheaper part of Hong Kong—namely, West Kowloon, where the rents are 1/4 what they are in Central. Oh, cruel fate. When will the rest of the world wake up and recognize that Korea is the center of all things, especially of hub plans?
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