Former Finance Minister Kang Bong-kyun, who led the ministry at the heart of the financial crisis in the late 1990s, passed away Tuesday. Kang suffered from pancreatic cancer for three years before he died at the age of 74.
A mourner pays respects at the funeral home of former Finance Minister Kang Bong-kyun in Seoul on Wednesday. (Yonhap)
Kang led the finance ministry for two years after the nation asked the International Monetary Fund to borrow $58 billion in a bailout package in late 1997. He led the reform of conglomerates and financial institutes alike.
After heading the ministry under the Kim Dae-jung administration, he served as a lawmaker in the National Assembly from 2002 to 2012.
By Park Ga-young (firstname.lastname@example.org)