South Korea is one of the Asian "tiger" economies became the 11th largest economy in the world and the largest exporter in 1996, emerging from one of the lowest incomes in the region in the 1960s. However, a year later, in 1997, Korea has been swept up in the Asian financial crisis and was looking for a record $ 58 billion from the International Monetary Fund. The crisis has exposed fundamental weaknesses in the Korean economy, bad loans reckless growth policies pursued by large conglomerates. Radical reforms have taken place and the Korean economy recovered faster. However, as Korea went up to the 10th anniversary of the crisis, people wondered whether it was a large enough institutional and structural reforms, or more had to be done, such as finding a new economic model of development to ensure its future. "Hide
by Laura Alfaro, Renee Kim Source: Harvard Business School 31 pages. Publication Date: October 30, 2007. Prod. #: 708007-PDF-ENG
Related Case Solutions & Analyses:
Arcor: Global Strategy and Local Turbulence (Abridged)
J.-Robert Ouimet and Tomasso Corporation
Global Software Piracy: Trends and Strategic Considerations
Yue Yuen Industrial (Holdings) Limited: (A) Making 200 Million Pair of Shoes a Year and Growing
Rong Family: Chinese Business History
Bundling of Office Suites: An Economic Analysis
Fiscal Policy and the Case of Expansionary Fiscal Contraction in Ireland in the 1980s
General Electrics Acquisition of Amersham PLC Spreadsheet Supplement
Continuing Transformation of Asahi Glass: Implementing EVA
Rating Environmental Performance in the Building Industry: Leadership in Energy and Environmental Design (LEED)
