When South Korea’s economy was facing ruin two decades ago, the government was rescued by the International Monetary Fund in a multi-billion dollar bailout.
It has enjoyed an incredible recovery since then and is touted as a success story amongst Asian economies. But many South Koreans still remember giving up their gold in exchange for cash.
Al Jazeera’s Kathy Novak reports from Seoul.
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South Korea marks unhappy anniversary of Asia's financial crisis
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South Korea marks unhappy anniversary of Asia's financial crisis
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10 comments
A lot of foreign-affiliated companies have already withdrawn due to communism in South Korea. Labor unions have dominated the company.
IMF are a bunch of scumbags. Nobody should ever borrow anything from them.
That is why I love South Korea and it's people…so loyal and protective! They are the epitomy of preserverance and "tigers"!
It's patriotism…
IMF (I aM Fired)
Guess I missed that story
Hanjin is going bankrupt. Lol so what has changed? Now u have a few mega-conglomerates controlling EVERYTHING.
Capitalism.
Poorman's nightmare.
Honor.
That is capitalism. Growth and recession.