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Korean Financial Turmoil

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The recent wave of Southeast Asian financial problems broke against Korean shores in November, sending the country’s currency and stock market swirling. Like many nations in the region, Korea built a solid macroeconomic performance on a weak financial foundation and shielded much of its economy from the full force of market competition.

Suggested citation: “Korean Financial Turmoil,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-12, pp. 19, 12.01.1997.

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