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Improving corporate governance in Korea

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Frame of Image yeong Kim
The Korean financial crisis owes largely to a corporate governance failure for large business groups (chaebols), where their inefficient resource allocation could not be checked. Effective internal mechanisms for supervision or monitoring of
management were virtually absent. This paper concerns basically with the question of what the priorities for corporate governance are and how to improve corporate governance in Korea. After briefly discussing characteristics of business groups such as their ownership and management, the paper reviews the past characteristics of corporate governance, spontaneously derived from the business group. In order to
devise ways to improve the current chaebol system, the strengths and weakness of chaebols are evaluated. Finally, after discussing the core of corporate governance reform, I recommend a strategy for chaebol reform. The central argument is that, in
view of the weak external capital market, underdeveloped industrial development and unstable political situation, it would be better to resuscitate chaebols through improving governance structure, while addressing its weakness by radically strengthening internal discipline mechanism, rather than to break them up.
ACKNOWLEDGEMENT
The completion of this thesis would not be possible without the support of many people, whom it is a pleasure for me to acknowledge at this time. First of all, I would sincerely appreciate my thesis supervisor, professor Jong-Il You, who has served as a perp


Full Text
Title Improving corporate governance in Korea
Similar Titles
Material Type Articles
Author(English)

Kim, Yu-Kyeong

Publisher

[Seoul]:KDI School of Public Policy and Management

Date 2001
Pages 69
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Holding KDI School of Public Policy and Management

User Note

Thesis(Master)