Korean Dictionary
How to say "1997 Financial Crisis" in Korean
“1997 Financial Crisis” in Korean is IMF 외환위기 (pronounced "IMF oehwan-wigi").
IMF 외환위기
IMF oehwan-wigi
Usage & Context
The 1997 Asian financial crisis severely impacted South Korea, requiring an IMF bailout. Koreans donated gold to help pay national debt in a remarkable display of solidarity. The crisis led to major economic restructuring and reforms.
Example Sentence
IMF 외환위기 때 많은 국민이 금을 모아 나라를 도왔어요.
During the IMF financial crisis, many citizens collected gold to help the country.
How to use IMF 외환위기 naturally
Quick answer
The Korean word for “1997 Financial Crisis” is IMF 외환위기, romanized as IMF oehwan-wigi.
Usage tip
Learn this word together with a complete Korean sentence. Meaning often depends on particles, politeness level, and word order.
Common mistake
Do not rely only on the English meaning. Read the Korean example sentence and notice the particles, word order, and politeness level around IMF 외환위기.
Pronunciation Guide
"IMF" is usually pronounced as the English letters "eye-em-eff." "외환위기" (oehwan-wigi) is pronounced "weh-HWAN-wee-gee." "Weh" is like "way," "hwan" rhymes with "swan," "wee" is like "we," and "gee" is like "geese" without the 's'. The stress is on "hwan."
More Example Sentences
Recalling personal difficulties during the crisis.
IMF 외환위기 때 정말 힘들었어요.
It was really tough during the IMF financial crisis.
Discussing the long-term impact of the crisis.
IMF 외환위기 이후 한국 경제가 많이 바뀌었죠.
After the IMF financial crisis, the Korean economy changed a lot.
Explaining a national effort during the crisis.
IMF 외환위기 극복을 위해 금 모으기 운동을 했어요.
We had a gold-collecting campaign to overcome the IMF financial crisis.
Cultural Context
The "IMF 외환위기" (IMF financial crisis) of 1997-1998 is a deeply etched memory for many Koreans, often simply referred to as "IMF." It was a period of severe economic hardship, job losses, and corporate bankruptcies, leading to a national bailout by the International Monetary Fund. The collective "gold-collecting campaign" (금 모으기 운동) where citizens donated their gold to help repay the national debt is a powerful symbol of national unity and resilience during this crisis. It's a common reference point when discussing economic challenges or national solidarity, highlighting a period of both struggle and collective triumph.
Editorial note
We review entries like IMF 외환위기 for pronunciation, example sentence fit, and learner mistakes so the page answers more than a direct dictionary lookup.
Reviewed by Min-jung Park, Korean Language Teacher. Updated May 31, 2026. See our editorial standards.
Common Phrases
IMF를 극복하다
To overcome the IMF crisis
IMF 시대
The IMF era
IMF 트라우마
IMF trauma
Related Expressions
경제 위기
gyeongje wigi
economic crisis
금 모으기 운동
geum mo-eugi undong
gold-collecting campaign
구조조정
gujojeojeong
restructuring
실업률
sireomnyul
unemployment rate
More Korean History Words
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