Chaebol General Motors and Renault. The chaebol debts were not only to state industrial banks but also to independent banks and their own financial services subsidiaries. The scale of the loan defaults meant that banks could neither foreclose nor write off bad loans without themselves collapsing, so the failure to service these debts quickly caused a systemic banking crisis, and South Korea turned to the IMF for assistance. The most spectacular example came in mid-1999, with the collapse of the Daewoo Group, which had some US$80 billion in unpaid debt. At the time, it was the largest corporate bankruptcy in history.
Real estate in South Korea home to some 30,988 people. The island is located in the Yeongdeungpo-gu district of Seoul, and largely corresponds to the precinct of Yeoui-dong. Lying on the south edge of the Han River, it contains the National Assembly of South Korea, the Yoido Full Gospel Church, and many office buildings including the 63 Building and the headquarters of LG, and other chaebol. Bundang (분당) is the southernmost district of Seongnam, South Korea. It is considered to be the thriving, beating heart of modern-day Seongnam. In the early 1990s, the Bundang area became a planned community as a response to alleviating the