Chaebol the claim that in order to be a competitive economy more power must be given to the chaebol. In recent years, the leading political parties of South Korea have reversed their pro-large corporate stance to one of economic diversification. Under Kim Dae-Jung and in the wake of the 1997 Asian Financial crisis, many reforms were made to the chaebol. Most of these changes pertained to corporate structure, transparency in financial reporting, corporate governance, and debt stabilization. In 1997, the IMF provided a bailout loan of $60 billion conditional on revision. Distressed financial institutions were to be closed down and those
Women in South Korea company of its size. Samsung has also stated that it aims to have at least 10% of its executive positions to be held by women. In 2013 Kwon Seon-joo became South Korea's first female bank CEO, as the CEO of state-owned Industrial Bank of Korea. Prostitution in South Korea is illegal, but according to one estimate, brothels, bars, massage parlors, discos, and what are known as "Taiwan style" barbershops (that is, those often employing a greater number of masseuses than barbers) employed as many as 1 million women, though not all were prostitutes. This underworld of abuse and exploitation has