Word: koreas
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Dates: during 1990-1999
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Hosted by the Korea Institute and the East Asian Studies department, Cho's speech explained how his party, the National Congress for New Politics, is responding to the economic crisis in South Korea...
...major reasons why Korea encountered the foreign exchange crisis at the end of 1997 and sought assistance from the International Monetary Fund (IMF) was troubled banks," Cho said. "Under the new government, banks will have to close if their performances turn out to be poor...
While acknowledging South Korea's unemployment rate of 7.5 percent and a $150 billion debt to foreign countries, Cho was optimistic about the future. He said three factors have helped push South Korea's economic recovery: the diplomatic efforts of Kim Dae-jung, South Korea's president; international aid and the combined efforts of the people...
...spoke of President Kim's three-tiered policy toward North Korea...
...First, we will not tolerate any military challenge of North Korea. Second, we have no intention of doing damage to North Korea or of unifying North Korea by absorbing it and third, we desire to start overall interaction and cooperation between the two sides," Cho said...