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
Owned-and-operated station affiliation agreement; for instance, network programming is very rarely preempted by O&Os, despite individual affiliates' rights to do so. The term "station" correctly applies to the ownership of the station. For example, a station that is owned and operated by the American Broadcasting Company (ABC) is referred to as an "ABC station" or an "ABC O&O," but normally should not be referred to as an affiliate. Likewise, a station not owned by ABC but contracted to air the network's programming is correctly referred to as an "ABC affiliate"; that is, the station is "affiliated" with ABC. However, informally or for