{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-af73c33d.css\" media=\"all\" /\u003e\n\u003cdiv data-title='SOUTH KOREA: WON FALLS 10 PERCENT 1 DAY AFTER BAILOUT PACKAGE' data-url='/boclips/videos/5c54c4e5d8eafeecae16c1cb' data-video-url='/boclips/videos/5c54c4e5d8eafeecae16c1cb' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nSOUTH KOREA: WON FALLS 10 PERCENT 1 DAY AFTER BAILOUT PACKAGE\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEng/Kor/NatSouth Korea's currency fell 10 percent in early trading on Thursday - one day after the country unveiled an emergency bailout package for the ailing won. The Seoul government had hoped the new measures would restore the...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEng/Kor/Nat\u003cbr/\u003eSouth Korea's currency fell 10 percent in early trading on Thursday - one day after the country unveiled an emergency bailout package for the ailing won. \u003cbr/\u003eThe Seoul government had hoped the new measures would restore the confidence of foreign investors, avoiding a financial free fall with wide reaching effects.\u003cbr/\u003eSouth Korea's economy is interlocked with those of the U-S and Japan.\u003cbr/\u003eAfter half an hour of trading on Thursday the South Korean currency plunged by the daily permitted limit of ten per cent to 1,139 won to the U-S dollar.\u003cbr/\u003eThe market was virtually halted with few buyers, despite the government announcement Wednesday of an emergency bailout package.\u003cbr/\u003eThe package included the self-help measures allowing the value of its currency to fluctuate by up to ten per cent a day.\u003cbr/\u003eOfficials hoped that would boost investors' appetite for the battered won.\u003cbr/\u003eDoctor Inhyung Lee is the director of research at L-G Economic Research Institute in Seoul.\u003cbr/\u003eHe believes that the won will drop another ten per cent Friday.\u003cbr/\u003eSOUNDBITE:(English)\u003cbr/\u003e\"Today, after the announcement, the exchange rate moved pretty much the way we had expected yesterday (Wednesday).  It reached the upper ceiling again.  I think in a way this is what the government has also expected and what the government wants to do. It wants to depreciate the Korean won further so that there will be no further expectation of depreciation of the exchange rate and probably that's the Taiwanese government think that the foreign investors might pick up some interest in our bond market.\"\u003cbr/\u003eSUPER CAPTION: Inhyung Lee, Research Director, LG Economic Research Institute\u003cbr/\u003eThis market in central Seoul specialises in the sale of imported goods.\u003cbr/\u003eThe plunging value of the won has undoubtedly hurt the merchants here. \u003cbr/\u003ePark Dae-Ryun, has been doing business at Nam Dae Moon market for over twenty years.\u003cbr/\u003eSOUNDBITE: (Korean)\u003cbr/\u003e\"Such bad business never existed in the twenty years that I have been here. If there were about 1,000 customers a day, these days, that has decreased about 30 to 40 percent.\"  \u003cbr/\u003eSUPER CAPTION: Park Dae-Ryun, Shopkeeper\u003cbr/\u003eShopkeepers stress that it is not only the devaluation of the won that is hurting business.\u003cbr/\u003eThey see a need for political stabilisation in the country and a need to regain confidence in the economy.\u003cbr/\u003eAnalysts agree that such confidence will encourage increased foreign investment which will strengthen the currency's position.\u003cbr/\u003eSeoul, South Korea - 20 November 1997\u003cbr/\u003e1. Two shots of foreign exchange board\u003cbr/\u003e2. Pan from the board onto the floor of the bank\u003cbr/\u003e3. Set up shot of Dr. Lee \u003cbr/\u003e4. SOUNDBITE (English): Inhyung Lee, Director of research, L-G Economic Research Institute \u003cbr/\u003e5. Wide shot of the exterior of market\u003cbr/\u003e6. Mid shot of the exterior of market\u003cbr/\u003e7. Inside the market showing imported goods on display\u003cbr/\u003e8. Close up of import goods\u003cbr/\u003e9. Various shops inside\u003cbr/\u003e10. Set up shot of Park\u003cbr/\u003e11. SOUNDBITE (Korean): Park Dae-Ryun, Shopkeeper\u003cbr/\u003e12. Wide shot of imported whiskey\u003cbr/\u003e13. Close up shot of imported whiskey\u003cbr/\u003e14. Wide shot of market\u003cbr/\u003e15. Close up shot of sign board\u003cbr/\u003e16. Wide shot of people walking in the market\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" 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class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e1997\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003easia, exchange rate, personal finance, time, east asia, south korea, economy, international trade, business, governments\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' 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