Seoul lays out path to avoid ruin that beset Thailand

Article Abstract:

The South Korean government is laying out new financial regulations and tightening its administrative grip on the domestic banking sector to avert a financial debacle similar to the one faced by Thailand. According to the South Korean Ministry of Finance and Economics, the government aims to improve international sentiment regarding its economy by enhancing financial management and increasing the banking sector's accountability to the public. The ministry also claimed that it was prepared to use the government's $30.5 billion in foreign currency reserves to avert a currency crisis while also meeting all foreign loan obligations.

Economic Programs, Administration of Economic Programs, Thailand, Economic policy, Seoul, South Korea

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The market is right, Korea is reforming

Article Abstract:

The increase in the Seoul, South Korea stock market by about 35% since the start of 1999 is indicative that the country is on the road to recovery. Other indicators are that the macroeconomic reform is on schedule and that there are sufficient forces on individual firms to augment their returns to stockholders. Most of all, there is an increasing drive for young executives and emerging small companies to follow the US corporate model.

Column, Economic development

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