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
Suicide in South Korea also graded on a curve, leading to more competition. Since 2012, students in South Korea go to school from Monday to Friday, and every odd Saturday. Before 2005, South Korean students went to school every day from Monday to Saturday. Although South Korean education consistently ranks near the top in international academic assessments such as PISA, the enormous stress and pressure on its students is considered by many to constitute child abuse. It has been blamed for high suicide rates in South Korea among those aged 10–19. In South Korea, mental illness is taboo, even within a family. Over 90%