Korea and the Asian Economic Crisis: Did Korea Change its Economic Model?

Abstract

The Korean economy has evolved remarkably well for the last 60 years. Its performance has been admired and copied worldwide. But at the end of the 20th century, a crisis that apparently was not related to its economy, devastated the Korean model. This thesis focuses on the causes and consequences of the happenings during that time. The thesis will deal with the economic and governmental evolution of Korea until the 1990s, the structure of the Asian crisis itself and the fall of Korea that was caused by it.