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
Owned-and-operated station the term "affiliate" only applies to stations that are not owned by networks, but instead are contracted to air programming from one of the major networks. While in fact there may be an affiliation agreement between a network and an owned-and-operated station (as suggested under "Ownership Info" on the FCC TV Query search for WABC-TV), this is not necessarily required, and may simply be a legal technicality formalizing the relationship of separate entities under the same parent company. In any event, this does not prevent a network from effectively dictating an owned-and-operated station's practices outside the scope of a normal