Information about Asia and the Pacific Asia y el Pacífico
Asian Financial crises

Chapter 15 Korea’s Financial Sector Reforms

International Monetary Fund
Published Date:
January 2001
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    Information about Asia and the Pacific Asia y el Pacífico
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    Korea has made great strides in its financial sector reforms, but many challenges remain. Most importantly these concern the deep links between corporate and financial sector reforms and the large fiscal resources required to resolve the current under capitalization of banks. This paper draws on work of other World Bank colleagues, in particular Ira Lieberman and Bill Mako. It also draws on information from the Korea government, in particular, Korean Government’s Economic Reform Progress Report. Helpful comments were received from Jose De Luna Martinez and participants in the conference, Asia: An Analysis of Financial Crisis, Chicago, October 8-10, 1998, jointly organized by the Federal Reserve Bank of Chicago and International Monetary Fund. The opinions expressed are the authors’ own, however, and do not necessarily reflect those of the World Bank. For comments, please contact Stijn Claessens, e-mail:, fax: (202) 522-2031.

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