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This paper examines the economic crisis in Korea which began in November 1997. Now that Korea has successfully overcome the crisis, it is meaningful for us to review why the crisis happened suddenly after her continuous economic successes, how she has been successful in overcoming the crisis, and what kinds of further tasks she has to do for her sound economic structure.
First, we reviewed the economic situation around the economic crisis in 1997. We could recognize a critical economic phenomena, such as, sharp downfall in the KOSPI, rapid rise in the US dollar exchange rates, and an increased dishonoured rate of bills. Second, we looked over the major causes of the economic crisis. The causes can be classified into domestic and foreign ones. There are two theories to explain that the economic crisis happened by overseas factors: America's conspiracy theory, and the Domino theory. The former argues that the United States of America had conspired the crisis to check European and Asian economic blocks. The latter explains that the Korean economic crisis is just a domino phenomenon of economic crises in South-Eastern Asia.
There are four causes for the Korean economic crisis: (1) inability and corruption of political leaders, (2) heavy debt financing and over-investment by corporations, (3) inefficient management by financial institutions, especially banks, and (4) mammonism and overconsumption by the people.
Third, we listed three factors for overcoming the crisis successfully: (1) all the people felt the crisis seriously and showed a strong will to overcome it. Thus, They did not resist to Government's renovation. (2) Korea had good external conditions such as recovery of the world economy, the rapid economic growth of China, the devaluation of the Korean Won against U. S. dollar, and the active support of developed countries, including America. (3) the Korean government and corporations put the economy base on efficiency and market economy. However, there were some problems Korea faced: an increased future burdendue to the tremendous amount of public funds, unfinished innovation, and deepened economic and social conflicts.
Lastly, we suggested four tasks to be fulfilled in the future. (1) Korea should make efforts to prepare for external shocks and the stability of a macro economy. (2) She should be continuously renovating her economic system forwardly;(3) Korea should broaden and strengthen its economic
growth potential; (4) the Korean government needs to utilize its renovative leadership. All other countries, including Uzbekistan, can learn a couple of lessons from how Korea has overcome the economic crisis successfully. The first and most important lesson of successful in overcoming the crisis is a national unity through strong political leadership. In addition, all civil parts need to participate actively in various renovative programs and they should set out restructuring rapidly and decisively, which contrasts other countries who experienced, a similar economic crisis.
First, we reviewed the economic situation around the economic crisis in 1997. We could recognize a critical economic phenomena, such as, sharp downfall in the KOSPI, rapid rise in the US dollar exchange rates, and an increased dishonoured rate of bills. Second, we looked over the major causes of the economic crisis. The causes can be classified into domestic and foreign ones. There are two theories to explain that the economic crisis happened by overseas factors: America's conspiracy theory, and the Domino theory. The former argues that the United States of America had conspired the crisis to check European and Asian economic blocks. The latter explains that the Korean economic crisis is just a domino phenomenon of economic crises in South-Eastern Asia.
There are four causes for the Korean economic crisis: (1) inability and corruption of political leaders, (2) heavy debt financing and over-investment by corporations, (3) inefficient management by financial institutions, especially banks, and (4) mammonism and overconsumption by the people.
Third, we listed three factors for overcoming the crisis successfully: (1) all the people felt the crisis seriously and showed a strong will to overcome it. Thus, They did not resist to Government's renovation. (2) Korea had good external conditions such as recovery of the world economy, the rapid economic growth of China, the devaluation of the Korean Won against U. S. dollar, and the active support of developed countries, including America. (3) the Korean government and corporations put the economy base on efficiency and market economy. However, there were some problems Korea faced: an increased future burdendue to the tremendous amount of public funds, unfinished innovation, and deepened economic and social conflicts.
Lastly, we suggested four tasks to be fulfilled in the future. (1) Korea should make efforts to prepare for external shocks and the stability of a macro economy. (2) She should be continuously renovating her economic system forwardly;(3) Korea should broaden and strengthen its economic
growth potential; (4) the Korean government needs to utilize its renovative leadership. All other countries, including Uzbekistan, can learn a couple of lessons from how Korea has overcome the economic crisis successfully. The first and most important lesson of successful in overcoming the crisis is a national unity through strong political leadership. In addition, all civil parts need to participate actively in various renovative programs and they should set out restructuring rapidly and decisively, which contrasts other countries who experienced, a similar economic crisis.
목차
Ⅰ. Введение
Ⅱ. Реальность экономического кризиса в Корее
Ⅲ. Причины экономического кризиса
Ⅳ. Процесс преодоления экономического кризиса
Ⅴ. Уроки и проблемы преодоления экономического кризиса
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UCI(KEPA) : I410-ECN-0101-2009-325-014523707