Beyond education and health services, both key aspects of the SIEO development model, the service sector is relatively small. Social insurance was limited forthe most part to industrial workers, financed by employer and employee contributions and operated at arms length from the government, all of which contributed to a highly privatized,familial model of social welfare provision reliant on continuing growth successes (Kwon 2005, Peng 2011, Pierson 2004). According to Chang, the contributions that these and other economic policies made to social cohesion, political stability and industrial peace created the circumstances for long-term investment and growth and should be credited with their positive social welfare effects in the same manner as more direct programmes. However, the Asian Financial Crisis (AFC) in 1997-98 complicates this equivalence, as increases in unemployment and economic insecurity rendered the presumption of full employment and high growth inadequate for social protection. A number of social policy reforms that extended protections were introduced, particularly in the Republic of Korea, but many of these were in the pipeline pre-AFC and/or phased out after economic growth returned (Kwon 2005).