Korea: Can President Kim Make Reform Happen?

The hardest changes remain undone

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.

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