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The Korea Fund's chairman reports that the South Korean stock market continued its bull run until October 2007, but then moved in a broad sideways trend due to international debt market concerns and rising inflationary pressures. The KOSPI closed the financial year (July 1, 2007 to June 30, 2008) at the same levels as May 2007. The net result for the KOSPI over the period was not specified.
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