South Korea, as one of the Asian “tiger” economies, turned into the world of 11 largest economy and major exporter in 1996, the. from one of the lowest incomes in the region in the 1960s But a year later, in 1997, Korea was swept into the Asian financial crisis and was looking for a record $ 58 billion bailout from the International Monetary Fund. The crisis exposed fundamental weaknesses in the Korean economy, bad loans of reckless growth policies pursued by l … Read more »

South Korea, as one of the Asian “tiger” economies, turned into the world of 11 largest economy and major exporter in 1996, the. from one of the lowest incomes in the region in the 1960s But a year later, in 1997, Korea was swept into the Asian financial crisis and was looking for a record $ 58 billion bailout from the International Monetary Fund. The crisis exposed fundamental weaknesses in the Korean economy, bad loans from pursuing reckless growth policies by major companies. Has been far-reaching reforms and the Korean economy recovered quickly. However, as Korea approached the 10-year anniversary of the crisis, the nation found itself consider whether it had enough institutional and structural reforms are implemented, or whether more should be done, as the search for a new model of economic development to its be needed to secure the future.
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from
Laura Alfaro,
Renee Kim
Source: Harvard Business School
31 pages.
Publication Date: Oct 30, 2007. Prod #: 708007-PDF-ENG
Transforming Korea Inc.: Financial Crisis and Institutional Reform HBR case solution

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