The South Korean financial crisis, debt-leveraged development, liberalization, and a loss of sovereignty

by Kim, Jin Hwan

This research is motivated by the question why the South Kom financial crisis occurred in 1997. W'lerecent US policy change toward South Korea tumed out to be a critical aspect of the crisis, there existed long standing fatures of South Korean developrnent that ppared the road to the crisis, e.g., the debtdependent, Chaebolsentered, and worker-sacrificing strategy. The purpose of uiis thesis is first to examine what caused the South Kom financial crisis, secondly to attempt critid examination of the historical characteristicsof South Korea development experience, and thirdly to seek the best way for the average Korean person to live a quaiity life. Also, this research will detect what kinds of social problems have arisen as a resuit of the fnancial crisis. The research historically examined those aspects of the &sis caused by US policy change, using an interdisciplinary approach that incorporates studies in history, sociology, international relations, political science, and economics. To my wife Jeonga, my parents-in-law, and my parents in heaven Ackaowledgement 1am indcbted to the many people who helped me conduct this research successfiilly and kept me studying at the University of Alberta 1 was blessed to have Satoshi as my supervisor. he gave me insightfbl comments, scholastic suggestions, and most of al1 courage. 1 cantlot forget al1 of his efforts toward rny work. 1 would like to express my gratitude towards my colleagues in East Asian Studies. Without the support of my family, 1 could not have pursued this second MA. Finally, 1would like to thank al1of the people who helped my wife and me ddng our wonderful stay in Edmonton.