Korea must get it right

The Korean government''s commitment to restructuring is still there despite recent setbacks to the reform process.

2001 is an important year for the whole of Asia as the liquidity-driven rebound that followed the 1997 crisis has come to an abrupt end. This allowed policymakers to postpone or even avoid some important restructuring decisions. While some countries no longer attract the widespread interest of international investors, due to either an inability to implement restructuring or ongoing and seemingly insoluble political crises, Korea remains the Asian market of choice for many.

However, this sympathy is not open-ended. Restructuring is now into the second round and meaningful laws and financial resources are in place. This is bolstered by solid institutions with able people in key positions. Korea needs to deliver on reform this...

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