Yesterday I had a chat with my friend Hwa-Yul Shin from South Korea. She was very happy to receive a call from me as she was eagerly waiting for a shoulder to cry. Now don’t get confused, she was worried not because of a lost lover but because of the current financial crisis in the world.

My friend Shin owns and manages a Tour Operating company in Soul and sends around 2000 topnotch clients to the Maldives and a substantial number to other attuned destinations in Asia. She has only five staff including her and she always told me business was good to enjoy a fun and decent life.

But yesterday my friend was very worried and confused – she said she might have to close the shop if exchange rates keep rising – because she sells her tailored holiday packages in Korean Won (KRW) but have to make payments in US Dollars to most of the hotels.

I understand her sentiments but I wonder if hoteliers and their Financial Officers will understand or accept this as a valid reason for delays in their accounts receivables.

If you watch recent business news you will know that Korean stock market is getting beaten up in foreign credit and foreign currency reserve with the current global financial crisis. If credit in the United States dries up, the lack of liquidity could hurt Korea’s ability to procure dollars. Even if the credit situation in the United States doesn’t get worse, the strong dollar could make the won weaker.

My friend Shin very sadly said that last week she lost almost US$ 3,000 in exchange variance after making a payment of US$ 10,000 to a resort for her October bookings. Apparently the hotel demanded immediate payment and she had no choice but proceed with payments to avoid any difficulty for her clients and her relationship with the hotel/s.

And I thought, how selfish can one be? I help my friends and business partners through difficult times – knowing that Positive Stories will Come Out of Difficult Times.