Example essay in English about korean poverty
- 최초 등록일
- 2007.11.06
- 최종 저작일
- 2007.10
- 4페이지/
MS 워드
- 가격 4,000원
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Eng101 시간에 쓴 Example essay 입니다
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One of historic event that hit the South Korean economy is when they unexpectedly plunged into a deep recession. The South Korean economy which had grown sluggishly in the mid-1990s began to show serious symptoms of weakness with export decline, frequent business failures, credit crunches and a sharp increase of unemployment. Even many of the large conglomerates which used to be the last to suffer economic downturns, collapsed, causing a great sense of uncertainty about the Korean industrial structure a financial system. Then came the explosion, in November 1997, the Kim Young Sam government revealed the grave financial situation of the South Korean economy and requested the IMF for a rescue loan. The worst economic crisis since the Korean War thus arrived in South Korea like thunder in the night, giving no warning and no time preparation. The IMF’s $ 57 billion bailout fund was accompanied by a severe financial and restructuring program. The impact of the financial crisis was devastating to Koreans, causing rising unemployment, business failures, sharply reduced incomes homelessness, family breakdown and a host of other problems.
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