How South Koreans donated 227 tonnes of gold to rescue their economy after the 1997 IMF bailout
- Image: AI GeneratedWhen South Korea was plunged into one of the worst financial crises in its modern history, the government turned to the International Monetary Fund (IMF) for what was then the largest bailout package ever approved.
- Yet one of the country's most remarkable responses did not come from financial markets or political leaders; it came from ordinary citizens.
- In an extraordinary display of national solidarity, millions of people voluntarily donated their wedding rings, gold jewellery, family heirlooms and even Olympic medals to help the country reduce its foreign debt.
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- Image: AI GeneratedWhen South Korea was plunged into one of the worst financial crises in its modern history, the government turned to the International Monetary Fund (IMF) for what was then the largest bailout package ever approved.
- Yet one of the country's most remarkable responses did not come from financial markets or political leaders; it came from ordinary citizens.
- In an extraordinary display of national solidarity, millions of people voluntarily donated their wedding rings, gold jewellery, family heirlooms and even Olympic medals to help the country reduce its foreign debt.
Sources: Times of India