Background

Korea was in a state of devastation after colonization and a civil war. In just half a century, however, Korea turned itself from one of the poorest nations in the world with a per-capita GDP of $67 into a global powerhouse whose GDP per capita now exceeds $20,000. As a small, open economy, Korea gained unique experiences in building a sound financial system and an effective financial safety net by overcoming the 1997 Asian financial crisis. Building upon that knowledge, Korea dealt successfully with the recent global financial crisis. Many developing countries have taken great interest in the economic success of Korea including its DIS. The KDIC is ready to share its knowledge and expertise gained through its 15 year history. As a first step, the KDIC has launched the "Global- KDIC KSP" to share its knowledge and expertise in implementing the DIS.