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The paper argues that by the time of the 1997-98 crisis, Korea's corporate and financial sectors became highly vulnerable to bankruptcy. Evidence is presented showing that between the late 1980s and 1997 the profitability of Korea's corporate sector was on a decreasing trend although it had some...
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The 1997 financial crisis turns out to be a major turning point in the history of Korean chaebols. The post-crisis corporate reform has resulted in a dramatic change in the landscape of chaebols as about one half of the top 30 chaebols changed their names after the crisis. The reform was swift...
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