REVAMPING THE KOREAN FINANCIAL SYSTEM: WHAT ROLE FOR FOREIGN INVESTORS?

摘要

This paper examines and evaluates the reforms to the Korean financial system in the wake of the 1997-98 crisis, focusing on the role of foreign investors in Korea's financial sector. Foreign involvement in the Korean financial sector has largely taken the form of participation in existing local banks, rather than of foreign hank entry. Foreign investors have promoted so-called 'software' reform, in particular by introducing more market-oriented management practices and by enhancing efficiency in the newly emerging financial sector.