Gold-collecting campaign | |
Korean name | |
---|---|
Hangul | 금 모으기 운동 |
Hanja | 金 모으기 運動 |
Revised Romanization | geum moeugi undong |
McCune–Reischauer | kŭm moŭgi undong |
The gold collecting campaign, from January to April 1998 |
In South Korea, the gold-collecting campaign was a national sacrificial movement in early 1998 to repay its debt to the International Monetary Fund. At the time, South Korea had about $304 billion in foreign-exchange debt. The campaign, involving about 3.51 million people nationwide, collected about 227 tons of gold[1] worth about $2.13 billion.[2]