The financial and economic crisis South Korea experienced in late 2008 and for part of 2009 is a consequence of that vulnerability. The global crisis, originated in the collapse of the U.S. real estate market, arrived in South Korea with the speed and size of a hurricane. The most visible trigger was the collapse of Lehman Brothers Holdings Inc. on Sept. 15, 2008. Within weeks, as the credit tightened around the world, South Korea was being considered by some foreign investors to be in the nearly the same danger as other more-indebted countries. In this situation, there were a number of news coverage from domestic and foreign media. And Korean government, domestic media and foreign media have a different perception on Korea Economy Situation. It caused the criticism about foreign media’s report.
The aim of this study is to analyze the news articles of domestic and foreign press and investigate the difference from the news-delivering tone and its frame and finally the causes. But I will not attempt to apply a moral standard in deciding whether the overall coverage is ‘malicious’ or not. That is too broad an area to attempt to address. Rather, this study will attempt to identify the difference in coverage of the South Korea economy that occurred during this important time between the domestic and foreign press. And it will attempt to identify some causes for the difference. Therefore, this thesis can increase the understanding of economic coverage by the domestic and foreign press.