Not Wasting a Crisis for Fundamental Reforms

Rationalization & Reform: The DJ Kim Government (1998~2002).

The new government of President DJ Kim, the most progressive among the top presidential hopefuls for decades until his election, surprised both supporters and critics when it announced a set of sweeping market-friendly reforms. His reforms also sought to streamline the banking industry and strengthen the equity markets in the financial sector. To those who argued for the need for domestic demand-driven growth, the DJ Kim government responded with policies to expand consumer credit.

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