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
Internet censorship in South Korea practically all large search engine companies in South Korea, including foreign-owned companies (e.g. Yahoo! Korea), have complied with this legislation. In April 2009 when the Communication Commission ordered user verification be put on the system at YouTube, Google Korea blocked video uploading from users whose country setting is Korean. In September 2012, Google reenabled YouTube uploads in Korea following a three-year block. On December 21, 2010, the Korea Communications Commission announced that it is planning to create a guideline about monitoring the Internet content in case of a tense political situation; automatically deleting any online anti-governmental message that could lead