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Korea's financial crisis management

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Frame of Image  rate increased from 0.14% in 1996 to 1.49% in 1997 Bil default rate increased from 0.14% in 1996 to 1.49% in 1997
Credit crunch Credit crunch
-- Corrporae bond yield rose from 13% to 30% in two months Co poratte bond yield rose from 13% to 30% in two months (CP yields rose to 41%) (CP yields rose to 41%) -- Stock price dropped by 42% in 1997 Stock price dropped by 42% in 1997
Real sector contraction Real sector contraction
-- Industrral lproduction growth turned to negative from Dec. 1997 Indust i ia production growth turned to negative from Dec. 1997 -- Unemploymenttrate rose from 2.6% to 6.8% in just five months Unemploymen rate rose from 2.6% to 6.8% in just five months
3
Volume of NPLs as of March 1998
NPLs held by financial institutions ::KRW 68 trillion NPLs held by financial institutions KRW 68 trillion Estimated amount of NPLs including cautionary loans Estimated amount of NPLs including cautionary loans (substandard loans by current specifications) that were likely to (substandard loans by current specifications) that were likely to be transferred into non-performing loans category ::KRW 118 be transferred into non-performing loans category KRW 118 trillion trillion
(As of Mar. 30, 1998, in trillion KRW)
Section Commercial Banks Non-banks Total
Substandard Loans 40.0 28.0 68.0
Cautionary 46.0 4.0 50.0
Total 86.0 32.0 118.0
4
2. Financial Restructuring
Guiding Principles
Initial Stage: 1998 --2000 Initial Stage: 1998 2000
-- Using adequate size of Public Funds to cle


Full Text
Title Korea's financial crisis management
Similar Titles
Material Type Proceedings
Author(English)

Kang, Dongsoo

Date 2005
Pages 29
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding KDI School of Public Policy and Management
License