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Korea Pays Final Debt from 1997 Crisis | South Korea News
Korea is finally erasing the last chapter of its financial past, set to pay off the final $7.9 trillion won debt from the 1997 Asian financial crisis by 2027 — a 30-year journey that began with emergency bank bailouts and relentless repayment. While the IMF bailout was settled in 2001, this debt stemmed from public funds used to stabilize the banking system. President’s tribute highlights three decades of collective effort, proving long-term resilience pays off. By year’s end, they’ll clear $7.15 trillion, dissolving the Public Capital Redemption Fund in 2027 — marking Korea’s full liberation…
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