Broke but in business

Article Abstract:

Korea First Bank received $906 million in government aid in January 1998 so that it could continue to operate. The government nationalised Kia Motors after it accrued massive debts and other failing businesses are being supported with government aid. South Korea has a weak bankruptcy system which allows failing businesses to apply for court mediation. The existing management continues to run the firm and they can delay payment of debts or get cheap loans from creditors while they try to improve their situation. Interest rates can be 20% compared to the usual rate of 30%.

Bankruptcy Law, Other Justice, Public Order, and Safety Activities, Business Failures, Finance, Kia Motors Corp., Korea First Bank

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More like a whimper: Seoul liberalization falls short of 'Big Bang' billing

Article Abstract:

South Korea's highly touted stockmarket reform package came out on July 12 1996 to an uneasy reception, with some critics claiming it goes too far and others contending it is too conservative. The measures seek to liberalize the market by reducing government controls on new stock issuance and modifying measures for intervention in price changes. That may make the market less appealing to the small investors who make up 60% of the turnover, favoring institutions. However, some stricter requirements have also drawn fire.

Securities and Commodity Exchanges, Security and commodity exchanges, Securities Exchanges, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Trading Regulations, Laws, regulations and rules, Stock-exchange, Stock exchanges, Exchanges, Securities law, Securities trading

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Cleaning up the act

Article Abstract:

South Korea plans to join the Organization for Economic Cooperation (OECD) in 1996, an organization whose members include the world's wealthiest nations. Membership in the OECD requires conforming economies to common organizational standards. South Korea has been working towards this goal and is reforming its economy in three main stages. Restrictions on foreign investment have been liberalized for the country's financial markets and restrictions have been relaxed on South Korean companies issuing foreign securities.

International aspects, International economic relations, Organization for Economic Cooperation and Development

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