The IMF delivered 46 billion USD, but it is still questionable whether this package has really cooled the wide-spread panic over the Korean economy. 4th any rate, the financial market began to stabilize during the next several months, and foreign lenders also allowed the extension of loans. In the meantime, the IMF recommended that Korea fully liberalize its financial market, strike out the burdensome regulations and provide social safety net. 5 there was massive economy-wide restructuring in the economy, and 160 billion USD were poured in to finance it. Of course, unemployment rate rose although the new social safety net provided some, if not enough, comfort.