The Role of Kamco in Resolving Nonperforming Loans in the Republic of Korea
AbstractThis paper aims to provide a balanced assessment of Korea Asset Management Corporation''s role in resolving nonperforming loans in the aftermath of the 1997-98 financial crisis. It argues that KAMCO''s incentive to dispose of NPLs can be explained by a strong social desire for a recovery of public funds injected for financial sector restructuring. KAMCO''s market-making role also helped overcome informational and coordination problems in the development of a market for distressed assets.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 04/172.
Date of creation: 01 Sep 2004
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