BUSINESS

[Monitor] 1997 financial crisis dealt biggest blow: survey

By Korea Herald
  • Published : Nov 15, 2017 - 18:06
  • Updated : Nov 15, 2017 - 18:06


More than half of South Korean people think the effect of 1997 Asian financial crisis still has an influence on society and their daily lives, a survey by the Korea Development Institute showed.

South Korea suffered a slump in its currency and sharp devaluation in its stock markets and asset prices in 1997, eventually forced to turn to a bailout package from the International Monetary Fund.

In the survey, 57.4 percent of the 1,000 respondents said the financial crisis was the most difficult period for South Korea in its history, and 59.7 percent said it changed their daily lives.

Among those that said the crisis made their daily lives worse, 68.9 percent were university students at the time.