The Asian Financial Crisis and the Tribulations of the South Korean Media

Over 4000 media workers in South Korea have lost their jobs since the advent of the Asian financial crisis in late 1997. A number of newspapers and television stations have experienced unprecedented downsizing and restructuration. As a matter of fact, the whole media industry has gone through a process of profound transformation. This article attempts to document the difficulties of the Korean media and newsworkers as they experience the unexpected economic crisis. It presents observations about some notable changes in the practice of news making, describing, for example, whether newsroom organizations have changed and if journalistic independence has been weakened. The article also discusses some fundamental implications of these changes for Korean journalism and its future.