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
Human trafficking in South Korea Human trafficking in South Korea The Republic of Korea is primarily a source for the trafficking of women and girls within the country and to the United States (often through Canada and Mexico), Japan, Hong Kong, Guam, Australia, New Zealand, Canada, and Western Europe for the purpose of commercial sexual exploitation. Women from Russia, Uzbekistan, Kazakhstan, Mongolia, the People’s Republic of China (P.R.C.), North Korea, the Philippines, Thailand, Cambodia, and other Southeast Asian countries are recruited to work in South Korea, and a significant number of these women are trafficked for sexual exploitation and domestic servitude. An increasing challenge for