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Chaebol policy for suppression of economic power concentration

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Frame of Image ntration C Ministry of Strategy and Finance (MOSF), Republic of Korea Inha University 	 	 inbang Kim, Inha University, Professor J JeongPyo Choi, Konkook University, Professor KDI School of Public Policy and Management 	 Ministry of Strategy and Finance (MOSF), Republic of Korea
Government Publications Registration Number 11-7003625-000008-01 ISBN 979-11-5545-039-0 94320 ISBN 979-11-5545-032-1 [SET 42] Copyright © 2013 by Ministry of Strategy and Finance, Republic of Korea
Government Publications Registration Number 11-7003625-000008-01
Knowledge Sharing Program
2012 Modularization of Korea’s Development Experience
Chaebol Policy for Suppression of Economic Power Concentration
Preface
The study of Korea’s economic and social transformation offers a unique opportunity to better understand the factors that drive development. Within one generation, Korea has transformed itself from a poor agrarian society to a modern industrial nation, a feat never seen before. What makes Korea’s experience so unique is that its rapid economic development was relatively broad-based, meaning that the fruits of Korea’s rapid growth were shared by many. The challenge of course is unlocking the secrets behind Korea’s rapid and broad-based development, which can offer invaluable insights and lessons and knowledge that can be shared with the rest of the international community. Recognizing this, the Korean Ministry of Strategy and Finance (MOSF) and the Korea Development Institute (KDI) launched the K


Full Text
Title Chaebol policy for suppression of economic power concentration
Similar Titles
Project Category Development Cases
Material Type Reports
Author(English)

Kim, Jinbang

Publisher

Seoul:KDI School of Public Policy and Management

Date 2013
Project Development Cases
Series Title; No Knowledge Sharing Program: KSP Modularization
ISBN 979-11-5545-039-0 94320; 979-11-5545-032-1 [SET 42]
Pages 122
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
Supervisor KDI School of Public Policy and Management
Organizer Ministry of Strategy and Finance(Republic of Korea); Inha University
Sponsor Ministry of Strategy and Finance(Republic of Korea)
Project Term 2012-01-01 ~ 2012-12-31

Abstract

The Korean word ‘chaebol’ literally means a group of individuals related by blood, who have accumulated massive wealth. Yet the word is commonly used to refer to a business group consisting of numerous big companies, owned and controlled by a person or family.
A chaebol family typically owns a large portion of shares in only one or two core companies, but its control power can reach a large number of companies. One of the means for chaebols to achieve this is to acquire a so-called equity investment in affiliated companies. Given a high ratio of inside shareholding in affiliated companies, the chaebol owner exercises exclusive control rights over them.
The number of chaebols grew rapidly in the 1960s and 1970s. Their rapid growth resulted largely from the government’s policy for economic growth. Chaebols were taken as partners by the government in implementing the Five Year Economic Development Plans.(The rest omitted)

User Note

Government Publications Registration Number 11-7003625-000008-01