BoK chief on financial supervision
In this speech, the governor of the Bank of Korea, Seong-tae Lee, suggests that financial reforms and stricter supervision standards ensured that the damage from the 2003 credit card crisis was minimal.
Speaking at an IMF conference on financial stability, Lee discussed the evolution of the central bank's supervision function. He outlined two periods of financial stress in Korea - the 1997/1998 Asian crisis and the 2003 credit card crisis - and explained how improved supervision standards had
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