US Financial Crisis: South Korea 1997 South East Asian Financial Crisis vs 2008 Financial Crisis


Code : ECC0039

Year :

Industry : General Business

Region : US

Teaching Note: Available

Structured Assignment : Available

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Abstract: This case study intends to compare and contrast how South Korea was affected by the 1997 South East Asian Financial Crisis and the 2008 US Financial Crisis. Capturing very insightful observations from the comparison, this case study enables an interesting discussion on, which sectors (industries) of the South Korean economy were affected by 2008 US Financial Crisis in particular and how the economy as a whole fared and responded to the crises. Many argue, based on key and fundamental economic indicators, that the South Korean economy is well equipped to deal with any potential problematic situation amidst the crisis. This case study enables a debate on the efficacy of the few corrective and damage-controlling measures initiated by the government.

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Pedagogical Objectives:

  • To compare and contrast 1997 South East Asian Financial Crisis and 2008 US Financial Crisis from the standpoint of South Korea; based on similarities and dissimilarities, reasons, measures taken, etc.
  • To explore (if possible measure) the extent and intensity of US Financial Crisis 2008 on South Korean economy and its key industries
  • To understand the corrective measures taken by the South Korean government to control the damage caused by US Financial Crisis 2008 and to debate on the efficacy of these measures.

    Keywords : US Financial Crisis, South East Asia, Asian Financial Crisis, 1997 Crisis, South Korea, Chaebols, Current Account Deficit, Fiscal Deficit, Economic Indicators

    Contents :
    South Korean Economy
    South Korea: 1997 South East Asian Financial Crisis
    South Korea: Mildly Impacted by US Financial Crisis 2008?
    South Korea and US Financial Crisis 2008: Corrective Measures

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