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.
Sexuality in South Korea revealing clothes. The Miryang gang rape incident in 2004 provoked controversy due to victim blaming and other mistreatment by police officials. This mistreatment ultimately led to a 2008 judgment against the police by the Supreme Court of South Korea. There are rape crisis centers available, run by the Ministry of Gender Equality and Family and the Korea Sexual Violence Relief Center. Prostitution in South Korea is illegal, but according to The Korea Women's Development Institute, the sex trade in Korea was estimated to amount to 14 trillion South Korean won ($13 billion) in 2007, roughly 1.6 percent of the nation's