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Corporate reform and restructuring in Korea

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Frame of Image rate restructuring ..…………………………………………………...13 1. Three differenct approaches at the interim period (1988~99) …………………………13 2. Achievements and lessons at the interim period …………………………………...….15 3. Further steps toward the market-driven restructuring …………………………………18 VI. Revisit of the Big Deal ………………………………………………………………….23 VII. Conclusion : implications for lessons ………………………………………………….25
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I. Introduction: Where do corporate reform and restructuring stand in the process of crisis management?
According to Mr. Fischer, the former First Deputy Managing Director of the IMF, countries hit by financial crisis go back to the normalcy through the following three phases of crisis management. 1 The first stage is the stabilization phase where the primary job lies how to stop panic and put out a fire on the footstep. The next stage is for the restructuring. In this stage, economies in question are expected to undergo a drastic surgery. Countries can finally go back to normalcy after the recovery phase. By this characterization, Korea is certainly situated in the second stage. The imminent danger of foreign exchange reserve shortage had been dealt with by April. 1998, less than six months after the crisis erupted. To this end, Korea managed to make a deal with private bank creditors to extend the maturity of short-term loans worth of US$ 21.8 billion by February 1998, on top of the aid-package of the IMF in December 1997. The successful launch of foreign currency-denominated sovereign bonds


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Title Corporate reform and restructuring in Korea
Similar Titles
Material Type Reports
Author(English)

Cho, Won Dong

Author(Korean)

조원동

Date 2001
Pages 27
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
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