The IMF crisis, also known as the 1997 Asian financial crisis, affected East and Southeast Asia. This financial crisis left many people in debt, and countries lost large amounts of money. Many K-dramas highlighted the effects of the IMF crisis, showing how it traumatized people, in some cases driving them to extreme measures.
The Asian financial crisis of 1997 started in Thailand, along with the collapse of the Thai baht (Thailand’s currency).
South Korea, Indonesia, and Thailand were the most affected countries by the 1997 crisis. Other affected countries included Hong Kong, the Philippines, Malaysia, China, Singapore, Japan, Vietnam, and Taiwan.
The financial crisis caused the South Korean currency, the won, to drop sharply against the US dollar.
The International Monetary Fund (IMF) approved a $21 billion loan for South Korea in December 1997. The IMF stepped in to stabilize the economy and currency, and it also provided financial support to Thailand and Indonesia.
Let's dive into the kdramas that shows the IMF crises and it's effect on people of South korea
1. Undercover Miss hong
Undercover Miss Hong revolves around Hong Keum Bo, a 35 year-old senior inspector of the Capital Market Investigation Division at the Financial Supervisory Service (FSS). She goes undercover as Hong Jang Mi, stealing her younger sister’s identity, who is 20 years old, to enter Hanmin Company.
While searching for Yehppee, Hong Keum Bo encounters several hardships and makes friends along the way.
After episode 8, Undercover Miss Hong shows how South Korea was affected by the IMF crisis. One of Hong Jang Mi’s friends, Kim Mi Sook, takes her own life, as she is the most affected by the crisis that put her in heavy debt.
Release Date - January 17, 2026
OTT platform - Netflix
Episode - 16
Cast - Park Shin Hye, Ko kyung pyo
2. Typhoon Family
Kang Tae Poong, son of Kang Jin Young (founder of the Typoon family), had to step into the shoes of CEO after his father abruptly died. Kang Tae Poong struggles to save his father’s company during the 1997 financial crisis.
He is accompanied by Oh Mi Seon, a bookkeeper at Typoon Company. She is very smart and fulfills her responsibilities as the eldest daughter of the house.
Release Date - October 11, 2025
OTT platform - Netflix
Episodes - 16
Cast - Lee junho, Kang min ha
3. My mister
My Mister portrays the broad impact of the IMF crisis on the lives of Lee Ji-an and the other characters within the drama. The drama highlights how the IMF crisis continues to affect workplace pressure and generational hardships. Lee ji ahn suffers from debt while park dong hoon suffers from workplace mistreatment.
While it does not directly depict the year 1997, where the crises happened, but it shows the ripple effects of the crisis on the lives of people in South Korea
Release Date -
OTT platform - Netflix And Prime
Episodes - 16
Cast - IU and lee sun kyun
Watch these kdramas to know more about the IMF crisis of South Korea and how it affected the life of South Koreans. K-Dramas can be educational while being entertaining
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