A.M. Best Releases Country Risk Report on Republic of Korea.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--Nov. 15, 2001 A slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in economic reform is potentially the most significant threat to the economy of South Korea The economy of South Korea is the third largest in Asia and the twelfth largest in the world, in terms of market exchange nominal GDP as of 2006. In the aftermath of the Korean War, South Korea grew from being one of the world's poorest countries to one of the richest. , according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a country risk report issued by A.M. Best Co. The bursting of the technology bubble and the pain it caused around the globe has hit Korea especially hard, since the country's aggressive reform efforts and strong recovery following the financial crisis of 1997-98 were fueled to a great extent by a booming market for technology exports. The government of South Korea The government of South Korea is divided into three branches: executive, judicial, and legislative. The executive and judicial branches operate primarily at the national level, although various ministries in the executive branch also carry out local functions. , with the help of the corporate sector, has devised creative methods of dealing with bad corporate debt and a lack of liquidity in the capital markets. The Ministry of Finance and Economy The Ministry of Finance and Economy is the name of various finance ministries:
Korea's insurance market is experiencing a major transformation as it responds to reforms, which are driving consolidation and creating a more competitive market for both domestic and foreign insurers seeking to gain and maintain market share. Korea's insurance market is the second largest in the Asia-Pacific region. The industry continues to undergo significant restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). in the aftermath of the regional financial crisis, which ended in 1998. A.M. Best contends that the current economic stability is fragile, and continued strong regulatory leadership is needed. However, Korea's market is still attractive to foreign investors who are willing to invest in this economy and its younger enterprises. A.M. Best also believes that change, including strong involvement by major foreign reinsurers, is expected to continue. In the primary market, the liberalization lib·er·al·ize v. lib·er·al·ized, lib·er·al·iz·ing, lib·er·al·iz·es v.tr. To make liberal or more liberal: "Our standards of private conduct have been greatly liberalized . . . of the insurance industry, which has allowed foreign insurers to introduce new concepts and products to the market, is also expected to enhance profitability over the long term. The complete A.M. Best country risk profile on the Republic of Korea insurance market can be accessed at http://www.ambest.com/ratings/cr/korea.pdf. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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