[Yoo Choon-sik] Responding constructively to outside warnings

The memory of the November 1997 economic crisis still carries weight in South Korea. Faced with the risk of sovereign default, the country turned to a massive bailout led by the International Monetary Fund after having failed to push through painful domestic reforms in earlier years. While it is often recorded simply as one of many turbulent incidents or accidents, the warning signs had been building for quite some time. In the months before the bailout request, financial instability was already

By The Korea Herald