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Bis papers no 54 257 the bank of korea’s policy response to the global financial crisis hee chun chung1 1 the impact of the global financial crisis on the korean economy. The eurozone debt crisis was the world's greatest threat in 2011 that's according to the organization for economic cooperation and developmentthings only got worse in 2012. An account of the causes and consequences of the 1997-1998 asian financial crisis the korean debt implications of the crisis although the economic . The 1997-98 korean financial crisis: causes, sachs and chair of the korea national committee for the pacific economic for the korean financial crisis of .