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

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

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