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The growth of Korean companies and their contributions to the miracle of the Han River

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  • The growth of Korean companies and their contributions to the miracle of the Han River
  • Le, Phuoc Cuu Long; Kim, Jong Ik; Kim, Kunbae
  • Science & Engineering Research Support Society


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Title The growth of Korean companies and their contributions to the miracle of the Han River
Similar Titles
Material Type Articles
Author(English)

Le, Phuoc Cuu Long; Kim, Jong Ik; Kim, Kunbae

Publisher

Science & Engineering Research Support Society

Date 2016
Journal Title; Vol./Issue International Journal of Multimedia and Ubiquitous Engineering:vol.11(no.5)
Pages 14
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Industry and Technology < Entrepreneurship
Government and Law < Governance
Holding Science & Engineering Research Support Society
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Abstract

Over the past six decades, the Korean economy has witnessed remarkable growth. In the 1950s, when the government was first established, Korea was the one of the poorest countries in the world. Now, it has grown as a global economic power with a solid industrial base. Korea’s economic success since then has been named “the Miracle of the Han River”. Along with the growth of the economy, there is an enormous contribution from Korean companies which probably started from small shops and have grown to become global giants. There are some studies about the Korean economy and Korean companies, especially Chaebols. These studies mainly focus on the relationship between value and ownership structure, and the gap between controlling power and cash flow ownership. However, there is a controversy over how the companies have contributed to the success of the Korean economy. These critical issues have attracted the attention of not only academic scholars but also policy makers.