It’s been a busy seven weeks in Korea’s financial sector, with the country’s efforts to reform the corporate and banking sectors creating serious conflict. A bank president was held hostage in his office and the leader of one of Korea’s largest unions went into hiding, leaving his unfortunate deputy to face the rap – a pair of handcuffs. On New Year’s Eve, W7 trillion ($5.7 billion) was pumped into six ailing banks in the wake of conglomerate Daewoo’s collapse – this on top of the W64 trillion already injected into the tottering sector.
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