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Part III - Conclusion
As you have seen the effects of the currency crisis in South Korea are far reaching. People in South Korea and Maryland are loosing their jobs as result of the changes in the value of the South Korean won. But due to the efforts of the International Monetary Fund, and help from the governments of Japan and the United States, South Korea and its currency, the won, are already beginning a slow recovery. As you saw earlier in the currency exchange graph, the won has recovered some of its January 1997 value. While most economists predict hard times for South Korea in 1998 and 1999, by the year 2000 it is expected that the South Korean economy will once again be a model of economic progress in Asia.
If you wish to learn about the other nations in Asia that experienced economic crises in 1997, look at the Web links on the next page.
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