South Korea's economy was in dire straights in at the beginning of this crisis, but it was able to lift itself out of impending problems by taking these various steps of reconstruction.
According to Chopra et al. (2001), keys to restructuring in South Korea include[d] "[p]romoting greater competition[i]mproving corporate governance [which includes education][and] improving capital structure and profitability." This will be the focus of this inquiry into South Korea's financial crisis of 1997 and its recovery, which is the stated purpose herein.
After this, there will be sections on: promoting greater competition (which includes the pre-crisis in Korea, Korea's downfall and subsequent recovery, Korea's economic transformation, Korea and economic sanctions, Korean international relations and the politics of economy; globalization in Korea, and the comparison of Malaysia to Korea); improving corporate governance and education (which includes Korean debt, the economy in a postwar Korea, and higher education and economic competitiveness within Korea); and improving capital structure and profitability (which includes Korea's recovery and capital controls and trade liberalization in Korea).
According to Lee (2003), "Most strikingly, formerly the 11th largest economy in the world, Koreaha[d] been the hardest hit [by the Asian Economic Crisis of 1997] ...