PUBLICATIONS & REPORTS
PUBLICATIONS & REPORTS
From Kitakyushu to the world: AGI, a research institute that studies Asia's economy and society
Restructuring of the Chaebols and Financial Sestor in Korea： Progress and Assessment Since the Financial Crises
| Author | Eun Mee Kim, Joon-Kyung Kim, Jun-Il Kim |
|---|---|
| Date of Publication | 2000. 12 |
| No. | 2000-23 |
| Download | 2094KB |
Contents Introduction
Korea’s leading conglomerates (chaebols) and financial institutions are currently undergoing dramatic restructuring under the watchful eyes of the International Monetary Fund (IMF) and the Korean government. The financial crisis, which swept through much of Asia in 1997, forced the Korean government to sign a Stand-by Agreement Package with the IMF on December 3, 1997. The IMF agreed to provide a $58 billion loan in exchange for various structural reforms in South Korea including that of the chaebols and financial institutions, since these two institutions were seen as the largest culprits of the financial crisis