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.
Video gaming in South Korea Legends" provides free access to all characters and extra game currency on each match. South Korea is well known for the fact that professional gaming has a very substantial following in the country, with the top players earning big money prizes in competitions, and spending a significant number of hours practicing every day. Pro-gaming tournaments in South Korea are broadcast, with millions of people tuning in to watch live or catch the results on one of three channels that are exclusively geared toward e-sports. In South Korea, pro-gaming and e-sports competitions are considered a national past time with approximately 10