On the corporate side, the major challenge facing Korea is to find new growth engines and markets in response to slowing growth in domestic and global economies. Korean companies are exploring new high-growth industries, such as biotech, electric cars, internet and mobile services, and renewable energy, in response to the slowing demand in traditional industries. Korean companies face difficult strategic decisions regarding these new businesses, primarily whether they should grow them organically or through M&A, and how to raise capital for these new businesses. At the same time, Korean companies also face the challenge of restructuring their existing businesses that are not competitive in the global markets. In the event that Korean companies engage in or pursue vigorous restructuring, there may be investment opportunities for our private equity clients or advisers who work with businesses to restructure distressed assets.