Historydraft LogoHistorydraft Logo
Historydraft Logo

1997 Asian financial crisis - The Hanbo scandal

Time: 1997

Place: South Korea

Details: The banking sector was burdened with non-performing loans as its large corporations were funding aggressive expansions. During that time, there was a haste to build great conglomerates to compete on the world stage. Many businesses ultimately failed to ensure returns and profitability. The chaebol, South Korean conglomerates, simply absorbed more and more capital investment. Eventually, excess debt led to major failures and takeovers. The Hanbo scandal of early 1997 exposed South Koreas economic weaknesses and corruption problems to the international financial community.



Korean War Image
Korean War-The Battle of Osan
Wednesday Jul 5, 1950 - Osan, South Korea
Oculus-Samsung Partnership
2014 - Suwon-si, South Korea
Korean War Image
Korean War-General election was held in the South
Monday May 10, 1948 - South Korea
Korean War Image
Korean War-Republic of Korea (South Korea)
Sunday Aug 15, 1948 - South Korea
First Sino-Japanese War Image
First Sino-Japanese War-Occuping Seoul
Monday Jul 23, 1894 - Seoul, Korea (Now South Korea))


HTC Image
1997 - Taoyuan City, Taiwan
Huawei logo - image
Huawei-A Contract to provide fixed-line network products
1997 - China
Kosovo War Image
Kosovo War-Large amount of arms
1997 - Kosovo
Flag of Christmas Island
Christmas Island-The Australian Indian Ocean Territories
1997 - Christmas Island
Hugo Chávez
Hugo Chávez-2nd Marriage
1997 - Venezuela