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The evolution of Korean Chaebols after 1997 IMF crisis

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Frame of Image HE EVOLUTION OF KOREAN CHAEBOLS AFTER 1997 IMF CRISIS
by Martina Sipkova
THESIS Submitted to KDI School of Public Policy and Management in partial fulfillment of the requirements for the degree of MASTER OF BUSINESS ADMINISTRATION
Approval as of ................................2007 Supervisor Professor Kyong-Dong KIM ............................................... 2007
ABSTRACT
THE EVOLUTION OF KOREAN CHAEBOLS AFTER 1997 IMF CRISIS
by Martina Sipkova The Korean Republic is an example of a successful state-led industrialization, which has brought the country among so-called Korean Dragons. This remarkable evolution was allowed for by the existence of chaebols, local business organization forms, which the government used as a main tool to achieve its economic goals during industrialization. However, successful economic development was abruptly disturbed by an IMF crisis hitting the economy in 1997. IMF and WB identified chaebols as the major cause of the crisis, thus the post-crisis economy reform included high portion of measures focused on corporate sector and with special attention paid to chaebols. According to an Anglo-American free market ideal, the measures were aimed at dismantling chaebols, as they were regarded harmful for the economy per se. This paper discusses post-crisis corporate sector reform in view of two different doctrines – free market ideology and traditional Korean model. It argues that the reform was illmanaged and its results are ambiguous, as it neglec


Full Text
Title The evolution of Korean Chaebols after 1997 IMF crisis
Similar Titles
Material Type Reports
Author(English)

Sipkova, Martina

Publisher

[Seoul]:KDI School of Public Policy of Management

Date 2007
Pages 65
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Holding KDI School of Public Policy of Management