When reached for comment last week, international investor and financial commentator Jim Rogers wasn`t sure of the topic of the speech he would give at the World Knowledge Forum in Seoul yesterday.

He was sure, however, that he was no longer interested in investing here.

"I have various views on Korea, but do not invest there since Korea makes it extremely complicated for foreigners to invest there," Rogers said. "I know Korea says loudly and widely that it welcomes foreign investors but Korea`s actions tell a different story. They have driven me away and presumably others as well."

Rogers, now based in Singapore, may be best-known as the co-founder, along with George Soros, of the Quantum Fund in 1970. Over the next 10 years, it became one of the world`s first truly international funds, and by 1980 Rogers had "retired" to travel around the world while writing, teaching and commentating on financial matters.



In 2007 he moved with his family to Singapore, declaring that Asia was the place to do business in the 21st century.

Rogers had an account with a major world bank and had bought Korean shares, which led to the situation that turned him off from investing here.

"I wanted to transfer my shares to the same bank in a different city," Rogers said. "Under Korean laws, you cannot do that. You have to sell your shares and then buy them back."

Rogers, who said he has had investments in more than 30 countries in his four-decade career, called this "absurd" and said he could not understand the rationale. When he contacted Korean authorities, however, it was confirmed.

"The Korean government said, `Yes it`s true, if you don`t like it, invest somewhere else.`

"Who knows what else one would find if they invest there," he said. "I don`t know and I don`t want to find out."

Rogers could not give an exact date, but said he closed the account just a few months ago.

That said, Rogers still has hope for the peninsula and speaks of a forthcoming "merger" between North and South Korea that will turn it into a regional heavyweight.

"It`s a wonderful country, I love it there," he said.

"It will give Japan a gigantic run for their money. Maybe that`s why Japan is against the merger."

Rogers, 66, is also the creator of the Rogers International Commodities Index and CEO of Rogers Holdings Inc.

The 2009 World Knowledge Forum took place Tuesday through Thursday at the Sheraton Grande Walkerhill in Gwangjang-dong, eastern Seoul, with Rogers speaking yesterday.

Other speakers at the three-day forum included former U.S. President George W. Bush and Nobel Prize-winning economist Paul Krugman.

(rjamesyork@heraldm.com)









By Rob York