Following several years of strong expansion, the Korean economy began losing momentum in the second half of 2008 in the wake of the stress engulfing the global financial system. Although…
May 25, 2011
The tax burden in Korea—at 26 percent of gross domestic product (GDP) —was well below the average of the member countries of the Organization for Economic Cooperation and Development (OECD)…
May 25, 2011
There may have been no one who anticipated the bankruptcy of Lehman Brothers, once one of the top five global investment banks. The shocking news reverberated through the Korean financial…
May 25, 2011
Korea’s economy in 2008 was adversely impacted by high commodity prices, especially oil, and by financial and real shocks started by the collapse of housing prices in the United States…