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
Tourism in South Korea place in catering to the globalization of the South Korea society. Since then, South Koreans have been able to travel freely abroad. The busy lifestyle of modern South Koreans, leading to difficulties in mediating vacations with family or friends, and the increase in one-person households, have contributed to the growing number of South Koreans traveling alone. Therefore, the popularity of destinations close to South Korea, where South Koreans can go for short vacations alone, are increasing. According to the results of a plane ticket analysis in 2016, the top foreign destination for South Koreans is Osaka, followed by Bangkok and