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
Presbyterianism in South Korea in the communist-leaning northern parts of Korea were dissolved. In the Syngman Rhee-led parts of Korea south of the 38th Parallel they were reconstructed in 1946. The 33rd general assembly of the Presbyterian Church of Chosun was held in 1947. Two years later the name "Presbyterian Church in Korea" was adopted. The following year saw significant growth for the Presbyterian church in Korea. Among the reasons contributing to the growth in size of Christian communities in Korea was the fact that unlike in other countries, Christianity was not associated with colonial or imperialist power. The Protestant Christian message came to