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Financial sector reform in Korea after the Asian financial crisis

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  • Financial sector reform in Korea after the Asian financial crisis
  • Cha, Baekin
  • Seoul Journal of Economics


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Title Financial sector reform in Korea after the Asian financial crisis
Similar Titles
Material Type Reports
Author(English)

Cha, Baekin

Publisher

[Seoul]:Seoul Journal of Economics

Date 1999
Journal Title; Vol./Issue Seoul Journal of Economics:vol. 12(no. 4)
Pages 27
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Holding Seoul National University

Abstract

Since introducing the IMF stabilizing package in December 1997, major steps have been taken to restructure the financial sector in Korea. The financial sector reform until now is appraised to have laid the foundation for solid economic recovery and restoration of the sovereign credit rating. In particular, various measures to clean the balance sheets of financial institutions were, in a large part, successful in providing the foundation for an early normalization of the financial system and easing the credit crunch situation.