How the Chaebol Crashed South Korea in 1997

In the thirty years before 1997, real GDP in the Republic of Korea grew an average of 8.1% a year. By this measure, South Korea grew faster than almost every other developing country at the time. A powerful economic engine drove this growth - a delicate coordination between the government and its business elites. In 1997, that engine went out of balance and drove the country into a ditch. In this video, we look at how South Korea and its Chaebol fell into economic crisis.

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