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The Role of KAMCO in Resolving Nonperforming Loans in the Republic of Korea

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  • The Role of KAMCO in Resolving Nonperforming Loans in the Republic of Korea
  • He, Dong
  • International Monetary Fund (IMF)


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Title The Role of KAMCO in Resolving Nonperforming Loans in the Republic of Korea
Similar Titles
Material Type Reports
Author(English)

He, Dong

Publisher

International Monetary Fund (IMF)

Date 2004
Pages 22
Language English
File Type Link
Subject Economy < Financial Policy

Abstract

This paper aims to provide a balanced assessment of Korea Asset Management Corporation's role in resolving nonperforming loans in the aftermath of the 1997-98 financial crisis. It argues that KAMCO's incentive to dispose of NPLs can be explained by a strong social desire for a recovery of public funds injected for financial sector restructuring. KAMCO's market-making role also helped overcome informational and coordination problems in the development of a market for distressed assets.