The banking system had grown to eight times the size ofthe Cypriot economy's annual economic output - or GDP - although therestructuringofthe two biggest lenders should significantly shrink that number.
Mr Kim has also met leaders of South Korea's big conglomerates -- the chaebols -- and has warned that these onetime pillars ofthe country's economy must carry out fundamental restructuring that would include weaning them off their cosy relationship with government.
Warning against "Father Christmas" tax cuts or giveaways, he said targeted investment in infrastructure, support for manufacturing and a fundamental restructuringofthe banking system were important steps to "rebuilding our broken economy from the rubble".