콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Industry and Technology Entrepreneurship

Print

Corporate restructuring in post-crisis Korea

Related Document
Frame of Image  of Strategy and Finance(MOSF), Republic of Korea Wonhyuk Lim, Director, Policy Research Division, Center for International Development(CID), KDI Wonhyuk Lim, Director, Policy Research Division, Center for International Development(CID), KDI Yoon Jung Kim, Research Associate, Policy Research Division, CID, KDI Kwang Sung Kim, Freelance Editor
Government Publications Registration Number 11-1051000-000104-01 ISBN 978-89-8063-462-0 93320 Copyright ⓒ 2010 by Ministry of Strategy and Finance, Republic of Korea
#KSP기업영문전체_3차 2011.2.11 10:52 AM 페이지3 g6
Government Publications Registration Number 11-1051000-000104-01
Knowledge Sharing Program
Corporate Restructuring in Post-Crisis Korea
March 2010
*This case study is largely based on Lim-Hahm (2004) and Lim (2007)
MINISTRY OF STRATEGY AND FINANCE
Korea Development Institute
#KSP기업영문전체_3차 2011.2.11 10:52 AM 페이지4 g6
Contents
Chapter 01
Background
1. Evolution of the Pre-Crisis System 2. Deterioration of Balance Sheets and Failed Reform Efforts 3. The Nature of the Crisis and Reform Environment 7 9 12 14
Chapter 02
The Politics of Reform in the Transition Period
1. Changes in Political Leadership and Policy Paradigm 2. Crisis Management and Coalition-Building 19 21 23
Chapter 03
Corporate Restructuring and Institutional Reform
1. The Resolution of Legacy Costs 1-1. Cleaning Up Nonperforming Loans 1-2. Holding Culpable Individuals Accountable 2. Institutional Reform 2-1. Reducing Moral Hazard 2-2. Improving Corporate Governance 2-3. Prom


Full Text
Title Corporate restructuring in post-crisis Korea
Similar Titles
Project Category Consulting Programs
Material Type Reports
Author(English)

Lim, Wonhyuk

Publisher

Seoul:Korea Development Institute

Date 2010-03
Project Consulting Programs
Series Title; No Knowledge Sharing Program
ISBN 978-89-8063-462-0
Pages 61
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Holding Korea Development Institute
Recipient Country South Korea(Asia and Pacific)
Supervisor Korea Development Institute
Organizer Korea Development Institute
Sponsor Ministry of Strategy and Finance

Abstract

The economic crisis of 1997 provided Korea with a rare opportunity to overhaul a government-business risk partnership that had become increasingly dysfunctional under liberalization and democratization. Well before the opening of capital markets in the 1990s, liberalization and democratization led to significant changes in Korea’s developmental state model. While expectations for government protection against large bankruptcies remained strong, institutional reforms and credible market signals (e.g., large-scale corporate failures) designed to replace weakening government control with market-based discipline were not introduced in the pre-crisis period. The weakening of investment discipline since the late 1980s served as the underlying cause of the 1997 economic crisis (Lim-Hahm 2004). (The rest omitted)