This article looks at how Korea's financial markets and policies have changed since the 1997 and 2008 financial crises. Korea has worked on fixing weaknesses in its financial system and policies to prevent future crises. The country's financial stability depends on the health of households and businesses, as well as risks from global capital flows. By improving its financial system and policies, Korea can better handle future financial problems. The key takeaway is that emerging economies need strong regulations and policies to manage risks from global finance while still encouraging innovation.