Korea's Liberalization of Financial Services Trade

Sang In Hwang, Inseok Shin and Jungho Yoo

in Trade in Services in the Asia-Pacific Region

Published by University of Chicago Press

Published in print February 2003 | ISBN: 9780226386775
Published online February 2013 | e-ISBN: 9780226386782 | DOI:
Korea's Liberalization of Financial Services Trade

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This chapter examines the benefits, costs and risks of the liberalization of financial services trade based on the experience of Korea. It presents an account of financial liberalization in Korea at its various stages and documents the changes made in the 1990s and describes the liberalization measures implemented, particularly in the banking sector, before and after the 1997 Asian financial crisis. This chapter also explains what it takes to realize the benefits of trade liberalization in developing countries.

Keywords: financial services; trade liberalization; Korea; liberalization measures; banking sector; Asian financial crisis; developing countries

Chapter.  11151 words.  Illustrated.

Subjects: Business and Management

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