Selected social and economic issues concerning the financial crisis of 1997-1998 in South Korea
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Submission date: 2018-05-24
Acceptance date: 2018-10-26
Publication date: 2018-10-26
Corresponding author
Nicolas Levi   

WSGE, Burzyńskiego 5 m 11, 03-984 Warszawa, Polska
JoMS 2018;38(3):195-207
Od początku lat 60. do kryzysu w latach 1997-1998 wzrost gospodarczy Korei był wynikiem akumulacji wyjątkowego kapitału napędzanego głównie przez system finansowy zdominowany przez sektor bankowy i ściśle kontrolowany przez rząd. Kryzys finansowy z 1998 r. zahamował wzrost koreańskiej gospodarki. Niemniej jednak, ze względu na własne podejście, koreańska gospodarka wyszła z tego wyzwania ekonomicznego z sukcesem. Niektóre podmioty stały się również bogatsze z powodu kryzysu. The purpose of this paper is to explain the successful strategy of overcoming financial breakdown in the case study of South Korea, taking in account the nature of the Korean society. The aim of the article is to verify the hypothesis that South Korea used its own model in order to face with the crisis. A document analysis method is applied to present essential indicators such as exchange rates and financial debts. The article analyses also the social factor, as a driver of the Korean strategy toward the economic crisis. The paper will also discuss what led to the financial crisis in South Korea.

Material and methods:
Secondary sources

The crisis was also solved due to the nature of the Korea population

As above

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