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Transforming Korea Inc.: Financial Crisis and Institutional Reform Case Solution & Answer

South Korea, as one of the “tiger” Asian economies, became the 11th in the world and a major exporter largest economy in 1996, emerging as one of the lowest income countries in the region in 1960. However, a year later, in 1997, Korea was dragged by the Asian financial crisis and requested file $ 58 billion bailout from the International Monetary Fund. The crisis has exposed fundamental weaknesses in the Korean economy, growth policies irresponsible bad loans held by large conglomerates. Radical reforms took place and the Korean economy recovered quickly. However, as Korea has approached the 10 years of the crisis, the nation was thinking whether it has established adequate institutional and structural reforms, or whether to do more, as the search for a new model of economic development to ensure future.
by
Laura Alfaro,
Kim Renee
Source: Harvard Business School
31 pages.
Release Date: October 30, 2007. Prod #: 708007-PDF-ENG
Transforming Korea Inc.: Financial Crisis and solving cases of Institutional Reform

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