The IMF foreign exchange crisis was truly unprecedented for Korea

‌It felt like even more than the Lehman Brothers collapse was for the US.
Even Daewoo, which was at the level of SK back then, vanished in one fell swoop, and all its subsidiaries, along with other mid-sized companies, conglomerates, and banks, went bankrupt.
I remember an English teacher who entered university right when the aftermath was sweeping through society during my high school years telling me that
at that time, even in university alleys and commercial districts, the number of shops open on both weekdays and weekends was almost at the level of total annihilation.