본문/내용
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2x--xx0064 Kim Min-Sung
2x--xxxxx3 Hwang Ga-Hee
2xxx280206 Sagong Han-bich
Korean
Economy
in Crisis
Team : do our BEST !
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CONTENTS
History of KOREA Economy
1999’ IMF Currency Crisis
2003’ Card Crisis
2008’ Global Financial Debacle
2xxx’ Global Financial Crisis
Direction of Korea Economy
KOREAN
Economy
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1950’s
Economical aid and Economical Revolution after war`
$67 of national income
Under 0.1% of economic growth rate
1960’s
Starting Point of Development
Broke the national income over $100
Lots of factory were built up
Still got an aid from Taiwan, the U.S and Japan
Exported natural minerals
History of KOREA Economy
1970’s
Started Heavy Chemical Industries
National income broke $1,000
The miracle of River Han
1980’s
…
1. Sharp foreign capital inflow
2. Sharp foreign capital outflow
unemployed people had exceeded 1,500,000.
+ High interest rate
bank’s saving interest rate and loan rate had became high.
+ Cut of wages
corporation had cut wages to survive and reduce
financial burden.
+ Inflation of prices
increased prices of commodities had added to the burden
on household budgets.
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√ 2003’ Card Crisis
+ Government’s deregulation on credit-card, card company’s appearance-expansion business, and card users’ spending that exceeded their ability had caused various social and economical side effects.
As a result, various accumulated problem had presented all together in 2003, and credit-card company’s weakness had spread to financial market and caused card crisis
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√ 2003’ Card Crisis
1. Various government’s
deregulation
credit-card activation policy to boost consumption
ex. cash advance limit abolition, income tax deduction expansion, street member recruitment
→ increase in indis