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.
Owned-and-operated station "Channel 2" or "Dos" for its Manila O&O DWWX-TV. The ITV network is jointly owned by the owners of the local "Channel 3" stations throughout the United Kingdom, which since 2016 have been consolidated into two companies: ITV plc and STV Group plc. This means that officially, the stations own the network, rather than the network owning stations as is the case in most of the other countries listed here. However, since the 2004 creation of ITV plc, which since 2016 has owned and operated all of the Channel 3 licences serving England, Wales, southern Scotland, Northern Ireland and the