The fiancial situation at most Korean chaebol firms was extremely stringent in the development era.
The interest rate in the private market was 2~4% per month while many official loan programs at
bargain rates were available at govenment-cotrolled banks. Simply put, the financial market was
two-tiered: very-low rate official vs. very-high private market. Quite naturally, firms devised various
illicit schemes to apply for previliged offcial loans.
The attachment is my personal memoirs for the purpose of recording what happend in the hidden side of
the so-called Han-River Miracle in 1962~1996. This story may remind some readers of the good old days
or those turbulent times depending upon their position.
Illicit Finance-Published.pdfIllicit Finance-Published.pdf
0.91MB
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