I well read your article. I'm working as economic journalist in S. Korea for 14 years. Now I'm studying the department of economics at Princeton university. My company supports me to study 1 year in USA. I'm now studying the Asian financial crises, expecially Korea.(posted 8757 days ago)As you pointed out this article, Korea has much difficulties in overecoming the 'crony capitalism'. Korea had a nice balance sheet at the start of the 1997 financial crisis. That is to say that Korea suffered the economic hardship only because of the temporary illiquidity. Political instabilities were deeply engaged in the crisis. Post Korean government issues too many licenses treating foreign exchange trade to weak merchants banks which borrowed much dollar abroad and caused the financial crisis.
Thank you for your helpful article for my study. I hope you have consistent attention toward the Asian region, especially for Korea.
Sincerely, Contributed by Kyung-Wook, Lee (alkanah@aol.com) on November 30, 1999.