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Korea's economic recovery and international cooperation

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  • Korea's economic recovery and international cooperation
  • Choi, Woo-Sock
  • Samsung Eonomic Research Institute


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Title Korea's economic recovery and international cooperation
Similar Titles
Material Type Reports
Author(English)

Choi, Woo-Sock

Publisher

[Seoul]:Samsung Eonomic Research Institute

Date 2000-05
Series Title; No Issue Report
Pages 8
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Government and Law < International Politics
Holding SERI

Abstract

The Korean economy has experienced both quantitative and qualitative changes on an unprecedented scale. At the end of 1997, the economy fell victim to a currency crisis after being directly hit by the aftermath of the currency crises of Southeast Asian countries and had to be bailed out by the IMF. However, the nation started to break out of the crisis in the second half of 1998 and began to recover briskly at the beginning of 1999. You can plainly see how dynamic the change of the economy was from the fact that the GDP growth rate recorded 5% in 1997, -6.7% in 1998, and 10.7% in 1999. Still, more than 8% growth is expected this year. On June 12, a summit meeting between South and North Korea will be held for the first time since Korea was divided into two. (The rest omitted)