Could you describe how Jung-hak takes advantage of the crisis and bets against the Korean economy in Default? Could you relate the case about the Peso crisis to explain what the cause results in Koreas sovereign default is? Is Korean Won pegging to USD? Why Korean Won got weaken before the crisis? How the government ran out of foreign reserve? Do you support International Monetary Fund (IMF)s action in Default? IMF imposes the policy overhauls to Korean after they accept bailout terms, and the policy overhauls weaken the employment laws and impose austerity measures.