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
Internet censorship in South Korea account operated by the North. In January 2011, a South Korean man was arrested for praising North Korea through social networking sites. South Korean president Lee Myung-bak's year 2011 policies include cracking down on pro-North Korean comments on social network sites like Facebook and Twitter. Reporters Without Borders noted that the government "has intensified" its campaign to censor pro-North Korea material in 2012, as well. The Government of South Korea practiced censorship of gay-content websites from 2001 to 2003, through its "Information and Communications Ethics Committee" (정보통신윤리위원회), an official organ of the Ministry of Information and Communication, under its category