search query: @indexterm Korea, South / total: 169
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| Author: | He, Xiyou |
| Title: | An analysis of Korea's financial crisis (original in Chinese) |
| Journal: | Northeast Asia Forum (c)
1998 : 3, p.6-11 |
| Index terms: | FINANCIAL CRISES KOREA, SOUTH |
| Language: | chn |
| Abstract: | Since 1997, Korean large-sized enterprises have declared bankrupt one after another. It leads to difficulties in turn over of funds of financial institutions, foreign exchange reserve being in a state of emergency, rising exchange rate of US dollar against won and a slump in share prices. The Korean government asks IMF for help and thus Korea's economy has entered the so-called "IMF age". The crisis originates in the economic structural contradiction, that is, the economic structure with large enterprises as the core, which is formed under the protection of the government. The government's error in responding to the crisis is another reason. But in the long and mid-run, people have reason for optimizing about Korea's economic future for Korea has a solid economic basis and the crisis has made both the government and people suddenly wake up. |
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