I am watching this kdrama featuring one of the leads’ family suffering bankruptcy due to the IMF. I have no knowledge of economics and I don’t understand how a fund can make privates sector companies go bankrupt. Also tried reading about IMF conditions and also made no sense to me. Can you please help me understand why did Korea ask for an IMF and how it affected the economy and daily lives?
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I am interested in this too. Korean people refers this as an event. But, when I look it up, IMF is an organization. What happened between IMF and Korea?
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