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.
Marriage in South Korea were retained by their mother and her family. Marriage in South Korea Marriage in South Korea mirrors many of the practices and expectations of marriages in familiar to other societies, and as such, is constantly changing. Marriage in South Korea is currently restricted to unions between individuals of the opposite sex as same-sex marriages remain unrecognized. Males over 18 and females over 16 years old may marry with their parents' or guardians' consent, Otherwise South Korea's age of consent to marriage is 20. 20 years of age is also the age of consent for sexual activity. These age limits refer