Post-Crisis Transformation of the Korean Economy

Preface

CHAPTER I INTRODUCTION and OVERVIEW
1 Introduction
2 Overview of this book

CHAPTER II MACROECONOMY
1 Overview
2 Expanded private consumption and bi-polarization in consumption patterns
3 Continued trend of low inflation
4 Continued surplus of the nation's current account
5 Major changes in the employment structure amid the downward trend in the unemployment rate
6 Increased fiscal burden of the government

CHAPTER III FINANCIAL MARKET & INDUSTRY
1 Stabilization of the foreign exchange market with continued instability of other financial markets
2 Shift to a low interest rate regime and its side effects
3 Sweeping changes in the financial industry

CHAPTER IV INDUSTRIES
1 Overview
2 IT-related industries: emergence of the new growth engine
3 Traditional industries: search for breakthrough through restructuring efforts
4 Service industries: high growth driven by brisk domestic demand
5 Venture industry and new technologies: pains from the burst bubble and new hopes for the economy

CHAPTER V CORPORATE MANAGEMENT
1 Overview
2 Restructuring centering on large conglomerates
3 Great increase in foreign capital-managed companies
4 Spread of the "Choose and Concentrate" strategy across the corporate world

CHAPTER VI FOUR MAJOR SYSTEM REFORMS
1 Overview
2 Financial sector restructuring
3 Corporate sector restructuring
4 Public sector reform
5 Reform of the labor market

CHAPTER VII CONCLUSION
Verdict: a half success

References
Appendix I Critique of the effects of the IMF program on the Korean economy
Appendix II Chronology of major events of the Korean economy (1998 2002)