The major corporations and financial industry are thought to be the cause of growth in exports and also the danger of the IMF. The realities of the ‘97 Asian Financial Crisis and the IMF bailout are looked into in detail.
While the government-led economic growth was being replaced by a neo-liberalistic one represented by a ‘global standard,’ there was an expert bureaucratic body. Meanwhile, Korea’s first general trading company was turned into the 4th largest major corporation by Kim Woochoong, who criticized the government and pushed for greater focus on international exports. With the old order of Korean economics facing the new, the summer of ’99 tells the story of the ticking time bomb of Daewoo.
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