August 25, 1999 July 15 (JiMao years), South Korea to avoid a relapse into the financial crisis, the introduction of enterprise reform program.

South Korean President Kim Dae-jung met with Hyundai, Daewoo, Samsung, LG and SK 5 enterprise president as well as the main creditor bank governors urged big business to accelerate structural adjustment, and reached seven agreements.
Kim Dae-jung big corporations to change the mode of operation of the huge conglomerate, the implementation of operating independently of each series of enterprises by strengthening the main industry of the way the enterprise into a world-class competitiveness in the world market for the Korean economy, enterprises.
large enterprises, the main content of the creditor banks and the government reached agreement: During the year, the beginning of the year with large enterprises reached five agreements corporate restructuring; improve the leadership system of the enterprise; improve financial corporate and securities companies management system, strengthen government oversight; inhibit the cycle of investment in large enterprises within the subordinate enterprises and cut its improper business dealings; to prevent modifications inheritance and gift; government, banks and large enterprises to cooperate with each other to ensure the completion of the above agreement.
Kim Dae-jung stressed, "does not carry out fundamental reforms, Korea is likely to once again plunged into a financial crisis. He demanded a large enterprise group self-regulation reform, and said that if necessary the government will conduct the direct or indirect intervention.