Chaebol General Motors and Renault. The chaebol debts were not only to state industrial banks but also to independent banks and their own financial services subsidiaries. The scale of the loan defaults meant that banks could neither foreclose nor write off bad loans without themselves collapsing, so the failure to service these debts quickly caused a systemic banking crisis, and South Korea turned to the IMF for assistance. The most spectacular example came in mid-1999, with the collapse of the Daewoo Group, which had some US$80 billion in unpaid debt. At the time, it was the largest corporate bankruptcy in history.
Nickelodeon (South Korea) Nickelodeon (South Korea) Nickelodeon ( Nick) is a South Korean television channel aimed at children and teens. It is the South Korean version of American Nickelodeon. The channel is currently owned by SBS Viacom, a joint venture of SBS Medianet and Viacom International Media Networks. In South Korea, some of original series from Nickelodeon, like "Rugrats", "Rocket Power", "The Wild Thornberrys", "SpongeBob SquarePants" and "Dora the Explorer", were shown on what is now EBS1 (operated by public-service broadcaster EBS). "" was broadcast on MBC. A localisation of Nick Jr.'s "Blue's Clues" was shown on KBS2 (of public-sector broadcaster KBS). The