Recent financial reforms in Korea

Several notable economic reforms took place in 1993. Among them, the most significant was the real name finacial transaction reform announced on August 12, 1993. According to President Kim's mandate, all financial transactions are now possible only with real names. This paper is structured as follows. In section I, the real name finacial system and its effects on the Korean economy are described. In Section II, Korea's recently announced financial liberalization plans are reviewed and evaluated. Section III provides a brief discussion of other reform measures expected in the near future.