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In many ways, the year 2002 was a meaningful year for Korea as it marked a new beginning with a much-changed corporate and financial landscape after four years of difficult but necessary reform and restructuring. By near unanimity, the transition Korea underwent after the 1997 financial crisis has been praised as a successful one. In 2002, Korea achieved a 6% GDP growth in no small part on the strength of Korea’s significantly restructured economy and restoration of high sovereign ratings from the leading international credit-rating companies. In the financial sector, the continuing cleaning up of failing financial institutions and disposition of bad assets added new layers of strength and soundness to t