Experiences in Overcoming Two Financial Crises

KDIC's decisive responses were crucial to Korea overcoming the 1997 Asian financial crisis.

Program Areas

Actions	Outcomes
Blanket Coverage Coverage Expansion Integrated DIS Financial Restructuring (513 failed institutions resolved from '97 to '08)	Preventing Bank Runs Boosting Financial Competitiveness Restoring the Real Economy Improving Foreign Investors' Confidence in the Economy

KDIC was prepared for the recent global financial crisis.

An Exemplary Integrated Deposit Insurer

In response to recent changes in the financial landscape, the KDIC has adopted an integrated deposit insurance system.

It is also committed to ending unfair management practices and promoting sound, responsible management by holding those responsible for a financial institution's failure accountable.

Risk-minimizing DIS

The deposit insurance system in Korea has added mandates and powers for failure resolution and risk surveillance in addition to the basic functions as a pay-box. It is playing an important role as part of the financial safety net.