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
Mongolians in South Korea Mongolians in South Korea Mongolians in South Korea form the world's largest population of Mongolian citizens abroad. By 2003, there were already 20,000 Mongolians working in South Korea, making their population larger than the combined total of Mongolian Americans, Mongolians in Japan, and Mongolians in Europe. Five years later, their population had grown by 65% to an estimated 33,000 individuals, or 1.2% of the entire Mongolian population. The government of South Korea estimates that one out of every two urban households in Mongolia has a family member working in South Korea. According to South Korean government figures, 40% are residing