In 1998 the International Monetary Fund Extended a Loan to the South

In 1998 the International Monetary Fund extended a loan to the South Korean government on the condition that it engaged in extensive privatization. What is "privatization"?

A) The process of selling or giving away public property and enterprises to individuals.
B) The process of giving grants or tax breaks to private companies.
C) The process of expropriating private property for use by the government.
D) The process of allowing private citizens to participate in government.