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01/08/2000

The Present Status of Structural Reforms in Korea's Financial and Corporate Sectors

Seihoon Lee 

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1. Introduction

In December 1997， Korea asked for approximately $55 billion in emergency aid from the IMF (who provided $21 billion) and other international organizations. Today， two and a half years later， the Korean economy has exceeded the expectations of that pessimistic time. The financial system has sta-bilized overall， and the Kim Dae Jung administration has been internationally praised for its financial and corporate sector reforms.

Nonetheless， an uncertain future awaits the government-led reforms following a poor showing in the April general election， in which the government party failed to win a clear majority (winning 115 of 274 seats).

In this paper， we examine the progress of Korea’s structural reforms in the financial and corporate sec-tors， and consider what lies ahead.

Seihoon Lee

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