This paper reviews the liberalization measures that have been implemented in Korea since the financial crisis in 1997, and analyzes how well and in what ways they have contributed to corporate restructuring, and ultimately, to economic rehabilitation. (The rest is omitted.)

I. Introduction

II. Financial Crisis in Korea
1. Overview of the Financial Crisis
2. Liberalization before the Financial crisis
3. Old Development Paradigm in the Financial Crisis
4. Economic Grounds for Liberalization

III. Investment Liberalization
1. Cross-Border M&As
2. Privatization
3. Assessment

IV. Capital Account Liberalization
1. Capital Market Liberalization
2. Foreign Exchange Market Liberalization
3. Assessment

V. Trade Liberalization
1. IMF-initiated Trade Liberalization
2. Government-initiated Reinforcement Reforms
3. Assessment

VI. Accomplishment and Unfinished Agenda

References