Korea: Can President Kim Make Reform Happen?
He has been in power less than 100 days. And so far, President Kim Dae Jung has won unadulterated praise from the International Monetary Fund and other Western leaders for preventing a total collapse of the South Korean economy. The won has stabilized against the dollar. Thanks to the IMF's $60 billion bailout, a successful $4 billion global bond offering, and improved export performance, the country has rebuilt its foreign exchange reserves to $31 billion, from $3.8 billion in December. "This government is firmly determined and committed to reforms," Kim told BUSINESS WEEK in a May 22 interview.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
- Honda Recalls 800,000 Odyssey Minivans Linked to Injuries
- Goldman Sachs Sees Four 2018 Fed Rate Hikes as U.S. Growth Gains
- Getting a Dog May Save Your Life, Especially If You’re Single