Korean Experiences in Strengthening Financial Market (After the Crisis 1997)
14 Pages Posted: 24 Apr 2010
Date Written: January 31, 2007
The current financial sector of Vietnam nowadays has the same problems as Korean case after the financial crisis 1997. These problems are: high non-performing loans ratio (about 6-7%), low capital adequation ratio (less than 7%), lack of transparency, etc. But Korea had a good deal with these problems and solved all of them in such a short of time. Since the 1997 currency crisis, financial restructuring in the Korean economy has been successful in terms of many structural changes in the banking and non-banking sectors. These sweeping restructuring stabilized the financial system. With successful financial restructuring, the Korean economy recovered fast and is being more attuned to market forces. Thus, these are valuable experiences for Vietnam to strengthening and improving its own financial sector.
Keywords: Korea, Vietnam, financial, financial crisis, 1997, experiences
Suggested Citation: Suggested Citation