Financial liberalization in South Korea.

The tremendous volume of portfolio investments, foreign direct investments and uncontrollable short-term financial capital flows across borders which have been encouraged by global financial liberalization, (1) deregulation and privatization has led to closer integration of financial markets around the world. Increasing financial intermediaries, foreign banks, and brokerage firms armed with new technologies of computer programs, communication technologies and advanced fund managing techniques such as futures, swaps, global bonds and other derivatives are stimulating and expediting