Prologue : History of Korea’s Financial Industry


If you are interested in Korea, especially in terms of its economic development you probably have heard about the ‘Miracle of Han River,’ which refers to Korea’s unprecedentedly expeditious economic development within a couple of decades. At this point you might have a question that suddenly popped up in your head. What made Korea one of the world’s top 10 economies in this short period of time?


The fully explained answer lies in one of the articles to be published in near future (reminder: this is only a prologue). But I know you are too curious to wait (of course!), so here is the answer: I could proudly say that much of Korea’s great accomplishment is in large part attributed to ingenious financial entities including FSC’s predecessors that first embarked in the late 19th century and persevered long for Korea’s economic growth.

I thought it would be great if I could share with you this miraculous story of how Korea became one of the top rich countries from one of the poorest countries in the world. And, also by sharing this story it would be an opportunity for you to have a deeper understanding of Korea’s economy and be more affiliated with FSC.

As you can see in the title, this is only a prologue in which you will get a sense of how my articles on ‘FSC’s Today and Yesterday’ series will go about. I am planning to divide the series into 5 articles which will be published periodically. The chart below shows the topics of each post, and the topics are assigned in chronological order.


I am already full of excitement to start this great story of miracle, and I wonder if you feel the same. 😉 I hope you guys are buckled up and ready to have an astonishing journey with me back into the history of Korea’s economy and financial industry! It surely will be a wonderful opportunity for you to not only have comprehensive yet transparent understanding of how miracle happened, but also be inspired and stimulated by the grandeur of Korea’s economic history.

By Jaehyun Kim (

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