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 an affiliation with but has never owned). In general, an O&O is very unlikely to experience changes in its ownership, since it is often a significant source of revenue for its owner; and since its owner is also its parent network, the chances for an O&O to ever switch networks are also rather low – unless the station is, on the rare chance, sold to another network. However, in instances where the network finds an O&O to be no longer financially viable, it may choose to sell the station to a new owner or, in severe cases, simply close the