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 Multicultural family in South Korea A multicultural family in South Korea is a family that made up of people without a background in Korean culture. As the number of multicultural families increased in Korean society, the number of children in multicultural families also increased. New policies have been created to respond to the problems faced by children of multicultural families. Policies designed ot support multicultural families in South Korea are aimed at families with people who have acquired South Korean nationality. It can be defined as a family type where two cultures coexist in one family through international marriage, but