Cut and run: Seoul opts for 'managed' recovery programs
Article Abstract:
South Korean Pres Kim Young Sam has postponed certain key economic liberalization measures in the face of quickly decreasing growth. Kim will announce his deregulation measures at the end of Jun 1993, when the new five-year economic plan will be released. Meanwhile, the government will cut regulated interest rates, lift ceilings on corporate financial and reporting requirements and try to induce companies and unions to accept wage and price freezes.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Don't bank on it: Seoul's reforms could give government upper hand
Article Abstract:
South Korea's Ministry of Finance on May 29, 1993 released a five-year plan to reform regulation of the nation's banks. Traditional government control is generally blamed for the politicized and often corrupt banking system. The plan will do away with most controls to encourage greater competition between banks. However, critics complain that the plan is too slow and lacks specifics about turning the banks over to private management.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Comment about this article or add new information about this topic:
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