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The Evolution of Large Corporations in Korea

A New Institutional Economics Perspective of the Chaebol Sung-Hee Jwa, Chairman, President Park Chung Hee Memorial Foundation, South Korea
Controversy still looms large both in public and academic circles as to the role of large corporations in sustainable economic growth. In this book, the new-institutional economics perspective is adopted to clarify and answer some of the most critical questions relating to the behaviour of large corporations in Korea, or the chaebol, and the role and impact of institutions on their behaviour.
Extent: 256 pp
Hardback Price: $134.00 Web: $120.60
Publication Date: 2002
ISBN: 978 1 84064 883 6
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  • Asian Studies
  • Asian Business
  • Business and Management
  • Asia Business
  • International Business
  • Economics and Finance
  • Industrial Organisation
Controversy still looms large both in public and academic circles as to the role of large corporations in sustainable economic growth. In this book, the new-institutional economics perspective is adopted to clarify and answer some of the most critical questions relating to the behaviour of large corporations in Korea, or the chaebol, and the role and impact of institutions on their behaviour.

The book proposes a new chaebol policy that should enhance chaebol competitiveness, by introducing a new paradigm for Korea’s development strategy based firmly on a market economy that effectively breaks away from the government-led policies of the last three decades.

The Evolution of Large Corporations in Korea is a unique approach to understanding the issues surrounding the chaebol and will, by constructing a viable path for the advancement of the Korean economy, be of great interest to government, policymakers and management consultants as well as academics and scholars of Asian studies, business economics and industrial organization.
Contents: Preface 1. The Chaebol Problem and the Economic Policy Dilemma 2. Industrial Policies and the Growth of the Chaebol 3. Critical Review of the Traditional Perception of the Chaebol Problem 4. A New Interpretation of the Chaebol Problem and Evaluation of Chaebol Policy 5. The Role of Institutions and Government in the Evolution of Chaebols 6. Economic Institutions, Diversification and Performance: Empirical Evidences and Implications for Chaebol Behavior 7. Lessons from Korea’s Economic Success and the Future Paradigm for Corporate Policy 8. Toward a New Framework of Chaebol Policy 9. Overview and Conclusion References Index