In the fall of 1997, after crises battered Thailand and Indonesia, full-scale panic erupted in South Korea. As the currency depreciated, the corporate sector’s foreign loans became more onerous – further exacerbating the panic.
在1997年的崩盘中，危机先是袭击了泰国和印度尼西亚，然后在韩国引起了全面恐慌。随着韩元的贬值，公司部门的外国贷款负担大大增加，这进一步加剧了恐慌。IMF的早期支持都没能让情况稳定下来。