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Trade in Services in the Asia-Pacific Region$
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Takatoshi Ito and Anne O. Krueger

Print publication date: 2003

Print ISBN-13: 9780226386775

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226386782.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 24 July 2021

Korea's Liberalization of Financial Services Trade

Korea's Liberalization of Financial Services Trade

(p.283) 9 Korea's Liberalization of Financial Services Trade
Trade in Services in the Asia-Pacific Region

Sang In Hwang

Inseok Shin

Jungho Yoo

University of Chicago Press

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

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