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Financial and Corporate Restructuring in South Korea

Author

Listed:
  • Hiroshi Akama

    (Bank of Japan)

  • Kunihisa Noro

    (Bank of Japan)

  • Hiroko Tada

    (Bank of Japan)

Abstract

In 1997, a series of bankruptcies of the chaebols destabilized the financial system and triggered a currency crisis. President Kim Dae-jung who took office in February 1998 showed his strong leadership to move forward with swift and bold structural reforms, which restored high economic growth in 1999. This paper reviews the reforms of the past five years and discusses their implications for Japan.

Suggested Citation

  • Hiroshi Akama & Kunihisa Noro & Hiroko Tada, 2003. "Financial and Corporate Restructuring in South Korea," Bank of Japan Research Papers 2003-06-20, Bank of Japan.
    • Handle: RePEc:boj:bojron:03-e-0620
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    File URL: http://www.boj.or.jp/en/research/brp/ron_2003/data/ron0306b.pdf
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    Cited by:

    1. ., 2010. "The Korean Financial Sector: Its Transition and Future Agenda," Chapters, in: The Korean Economy in Transition, chapter 9, Edward Elgar Publishing.
    2. Gabor P. Kiss & Katalin Szoke, 2022. "A Shrimp between Fighting Whales: Lessons from the Economic Convergence of South Korea," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 21(2), pages 188-197.
    3. Oh, Frederick Dongchuhl & Park, Junghum, 2023. "A large creditor in contagious liquidity crises," Journal of Banking & Finance, Elsevier, vol. 146(C).
    4. Oh, Frederick Dongchuhl, 2013. "Contagion of a liquidity crisis between two firms," Journal of Financial Economics, Elsevier, vol. 107(2), pages 386-400.

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