Masse, Jean-Marie2012-08-132012-08-132008-12https://hdl.handle.net/10986/10576International Finance Corporation (IFC) was very active in the Republic of Korea immediately after the Asian financial crisis erupted in 1997. IFC reestablished operations in Korea and opened a local office in October 1998, and closed it in late 2002 after Korea recovered from the crisis. At the end of 1997, the Korean economy suddenly started to contract, the Korean won plummeted by over 100 percent against the US dollar, and liquidity in the banking sector dried up. Major commercial banks as well as smaller specialized financial institutions all faced increases in non-performing loans and were unable to roll over their shorter-term funding. In response to this crisis, IFC's first priority was to strengthen financial institutions through both financing and advisory services, and enable them to lead the restructuring process. IFC then injected liquidity into the trading system through trade enhancement facilities. IFC supported the restructuring of corporations facing liquidity problems and helped its clients grow as the recovery began. IFC helped strengthen Korea's financial sector by giving priority to financial sector reform. The Board approved investments of about US$670 million in 16 banks and finance companies.CC BY-NC-ND 3.0 IGOACCOUNTINGACCOUNTING STANDARDSADVISORY SERVICESBALANCE SHEETBANK MERGERSBANK RECAPITALIZATIONBANK VALUATIONBANKING SECTORBANKING SYSTEMBEST PRACTICEBEST PRACTICESBROKERAGEBUSINESS DEVELOPMENTCAPITAL GAINCAPITAL MARKETSCENTRAL BANKCOMMERCIAL BANKSCONFLICT OF INTERESTCONTRIBUTIONCORPORATE GOVERNANCECREDIT BUREAUSCREDIT OFFICERCREDIT RATINGCREDIT RATING AGENCIESCRISIS COUNTRIESCRISIS COUNTRYCRISIS MANAGEMENTCURRENCY DEPRECIATIONDEFAULTSDEPOSITSDERIVATIVEDERIVATIVE PRODUCTSDIRECT INVESTMENTSDISCLOSURE STANDARDSDUE DILIGENCEECONOMIC CRISISEMERGING MARKETEMERGING MARKET COUNTRYEMERGING MARKETSEQUITY INVESTMENTEQUITY INVESTMENTSEQUITY MARKETSEQUITY PORTFOLIOEXPOSUREEXTERNAL AUDITORSFINANCE COMPANIESFINANCIAL CRISESFINANCIAL CRISISFINANCIAL DISCLOSUREFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONSFINANCIAL MARKETSFINANCIAL SECTORFINANCIAL SECTOR REFORMFOREIGN EXCHANGEFOREIGN EXCHANGE MARKETSFUND MANAGEMENTFUTURE VALUEGLOBAL FINANCIAL MARKETSGROSS DOMESTIC PRODUCTHEAD OF BUSINESSINITIAL INVESTMENTINTERNAL AUDITINTERNATIONAL ACCOUNTING STANDARDSINVESTINGINVESTMENT APPROACHINVESTMENT CRITERIAINVESTMENT PROFESSIONALSINVESTMENT PROGRAMINVESTMENT STRATEGIESLIFE INSURANCELIQUIDITYLIQUIDITY MANAGEMENTLIQUIDITY PROBLEMSLOANLOAN PORTFOLIOLOAN PORTFOLIOSLOCAL CAPITAL MARKETSLOCAL CURRENCYMARKET ANALYSTSMARKET CONFIDENCEMARKET DISTORTIONMARKET DISTORTIONSMARKET PARTICIPANTSMARKET PRICESMONETARY FUNDMORTGAGEMORTGAGE FINANCEMUTUAL FUNDNON-PERFORMING LOANSNONBANKSOUTPUTPARTICULAR COUNTRYPENSIONPENSION FUNDPORTFOLIOPRESS RELEASESPRIVATE SECTOR INVESTMENTSPUBLIC RELATIONSRETURNRISK MANAGEMENTSECONDARY MORTGAGESENIORSHAREHOLDERSHAREHOLDER VALUESHAREHOLDERSSTATE GUARANTEESSTOCK MARKETSTOCK MARKET INDEXSUPERVISORY AUTHORITIESTRADINGTRADING SYSTEMTRANSPARENCYVALUABLEVALUATIONWorld Bank10.1596/10576