S-Space College of Social Sciences (사회과학대학) Institute of Economics Research (경제연구소) Seoul Journal of Economics Seoul Journal of Economics vol.12(4) (Winter 1999)
Financial Sector Reform in Korea after the Asian Financial Crisis
- Cha, Baekin
- Issue Date
- Seoul Journal of Economics, Vol.12 No.4, pp. 457-484
- 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.