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The reform of corporate governance in Korea with an emphasis on the Hyundai group

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  • The reform of corporate governance in Korea with an emphasis on the Hyundai group
  • Ha, Tae-Soo
  • Seoul National University(Graduate School of Public Administration)


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Title The reform of corporate governance in Korea with an emphasis on the Hyundai group
Similar Titles
Material Type Articles
Author(English)

Ha, Tae-Soo

Publisher

[Seoul]:Seoul National University(Graduate School of Public Administration)

Date 2003
Journal Title; Vol./Issue Korean Journal of Policy Studies:vol. 17(no. 1)
Pages 15
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Link
Subject Industry and Technology < Entrepreneurship
Holding Seoul National University

Abstract

This article analyzes changes in corporate governance institutions in Korea with an emphasis on the Hyundai Group. It is based mainly on historical institutionalism. In particular, it focuses on power struggles between pro-reformers and anti-reformers. According to Krasner (1984), and institutional change after a long period of equilibrium results in a radically new institution. However, it is not the case in many cases. Entrenched interests, in reality, tend to desperately resist reforms or compromise with pro-reformers. Consequently, a resulting insitution reflects the interests of both pro-reformers and anti-reformers. This means that a new institution cannot be a totally new one but follows its historical path. We can find the same logic in the chaebol reforms since 1998 in Korea. The Hyundai Group, a classic Korean chaebol, verifies the logic very well.