There are only a few articles available online which give you a comprehensive presentation of the factors involved in people committing suicide in South Korea and how these factors consequently become a hindrance in terms of full growth potential of the economy. Various studies talk about why people in South Korea commit suicide, the rate of growth in the number of suicides and also the various dimensions of socio-economic, cultural, age stratification and other aspects leading to suicide among different categories of people but none talk about the chronological events leading to the increase in the number of people taking their own lives, the reasons behind their appalling action of deliberate killing of the self and the subsequent impact of this on the families and loved ones of those who died and also the costs it bears on the nation and its economy as a whole all in one place. The aim of this article, therefore, is to explore the sequence, rate, reasons and the ultimate effect of suicide on the South Korean economy in the last few decades with increased focus surrounding the 1997-1998 Asian financial crisis which was a major drawback for South Korea: The Land of the Morning Calm.