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
Television in South Korea Television in South Korea In South Korea, there are a number of national television networks, the three largest of which are KBS, MBC, and SBS. Most of the major television studios are located on Yeouido and Sangam-dong. South Korea became the third adopter in Asia when television broadcasting began on 12 May 1956 with the opening of HLKZ-TV, a commercially operated television station. HLKZ-TV was established by the RCA Distribution Company (KORCAD) in Seoul with 186-192 MHz, 100-watt output, and 525 scanning lines. Important genres of television shows include serial dramas, historical dramas, variety shows, game shows, news programs, and