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Korea’s Regulatory Reform as a Strategy for Crisis Recovery

Author Byung-Sun Choi, Young Seop Shim, Byungki Ha Date 2010.08.19 Page 70
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The Republic of Korea seems to have rebounded successfully from the recent global
economic crisis far earlier than expected.
It is doubly astonishing not only because it did so in the late 1990s as well, but, more
importantly, because the quick recovery runs counter to the widely-shared predictions that
an economy which is so dependent on exports, would not be able to be so resilient. It is
only natural to ask what factors are contributing to the resilience of the Korean economy in
the context of the global economic downturn and how these factors have contributed to
such a swift rebound.