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
Driving license in South Korea Driving license in South Korea Driving licenses in the Republic of Korea may be attained at age 16 for cars and motorcycles. South Korea is one of the few nations that issue International Driving Permits (IDP) to sixteen-year-olds. This was made possible by a South Korean law in 2009, which gave Military cadets the requirement of driving a motor-vehicle. Classified in a separate category that is not licensed, but the body can be operated in accordance with state and driving aptitude to limit the conditions under which the vehicle can be fitted. From July 1, 1995, based on a driver's