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Does the Korean economy depend too much on Samsung?

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  • Does the Korean economy depend too much on Samsung?
  • Kim, Hyoung Tae
  • Korea Economic Institute of America


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Title Does the Korean economy depend too much on Samsung?
Similar Titles
Material Type Reports
Author(English)

Kim, Hyoung Tae

Publisher

[Washington, DC]:Korea Economic Institute of America

Date 2015-10
Series Title; No Academic Paper Series
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Economy < Economic System
Holding Korea Economic Institute of America

Abstract

Korea’s traditional growth model has reached an apparent limit. The main reason is because of the ineffectiveness in at least one of the three growth drivers: (1) trade surplus from exporting goods (macro-economy level), (2) manufacturing industry (industry level) and (3) large conglomerates (corporate level). The three drivers intersect into a single factor—Samsung Electronics (Samsung). This paper first answers the question as to whether the Korean economy depends too much on Samsung by setting forth a new classification and characterizing Samsung as a “systemically important corporation (SICO).” This paper shows that Samsung is a “systemically important corporation (SICO)” in terms of size, interconnectedness, and business complexity. If Samsung qualifies as a SICO, to reduce the systemic risk of Korean economy, Samsung should be viewed, treated and regulated accordingly. Two policy issues are emphasized. (The rest omitted)