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
Multicultural family in South Korea also includes the families of foreign workers, North Korean refugee families, and ethnic Korean families moving to Korea. The first category, international marriage families, refers to a family consisting of a married Korean citizen and a foreign spouse. The second category, the families of foreign workers, includes those that foreign workers bring with them to Korea or new families formed by foreign workers in Korea. Most of those families include children. The third category, North Korean refugee families, is composed of residents from North Korea with the official registration. These people have left North Korean society with various motives. In