At the time of the South Korean financial crisis,the merchant banks were
A)almost virtually unregulated.
B)subject to heavy government regulation.
C)engaged in long-term lending to the corporate sector.
D)restricted to long-term foreign borrowing.

Question

Quizplus · Accepted Answer

At the time of the South Korean financial crisis in the late 1990s, merchant banks in South Korea were virtually unregulated, which contributed to the crisis. These banks engaged in speculative lending and invested in risky assets, leading to high levels of non-performing loans and ultimately causing the crisis.

At the Time of the South Korean Financial Crisis,the Merchant