Economic Crisis and Corporate Restructuring in Korea: Reforming the Chaebol

by Stephan Haggard (Editor), Wonhyuk Lim (Editor), Euysung Kim (Editor)

Overview

In this comprehensive study leading scholars consider the historical evolution of the Chaebol and their contribution to the Asian financial crisis. They analyze the Korean government's response, and outline an agenda for financial and corporate reform. While Asian business conglomerates have been successful agents of growth, they have long had a number of organizational and financial weaknesses that make them vulnerable to shocks. Nowhere was this more true than in Korea, where the large corporate groups known as Chaebol have dominated the economic landscape.

Product Details

ISBN-13:	9780521131711
Publisher:	Cambridge University Press
Publication date:	02/18/2010
Series:	Cambridge Asia-Pacific Studies
Pages:	368
Product dimensions:	9.00(w) x 6.00(h) x 1.75(d)

Table of Contents

Introduction: the political economy of corporate restructuring in Korea Wonhyuk Lim, Stephan Haggard and Euysung Kim; Part I. The Politics and Economics of the Chaebol Problem: 1. The emergence of the Chaebol and the origins of the 'Chaebol problem' Wonhyuk Lim; 2. The politics of Chaebol reform, 1980–1997 Byung-Kook Kim; 3. The government, Chaebol and financial institutions in pre-crisis Korea Joon-Ho Hahm; 4. Corporate governance and performance of Korean firms in the 1990s Sung Wook Joh and Euysung Kim; Part II. The Political Economy of Crisis Management: 5. Business-government relations under Kim Dae Jung Jongryn Mo and Chung-in Moon; 6. The restructuring of Daewoo Dong Gull Lee; 7. Bank-led corporate restructuring Kyung Suh Park; Part III. Reform and Restructuring: 8. Corporate bankruptcy system and economic crisis in Korea Youngjae Lim; 9. FDI and corporate restructuring in post-crisis Korea Mikyung Yun; 10. Competition law and policy in Korea Kwang-Shik Shin; 11. Corporate governance reform in Korea Myeong-Hyeon Cho; Conclusion: whither the Chaebol? Stephan Haggard, Wonhyuk Lim and Euysung Kim.

Editorial Reviews

"The essays provide a timely review of chaebol reform, and represent a fine addition to the growing literature of Korean business-state relations. ...scholars and policy makers interested in policy implementation and procedure will welcome the volume." Pacific Affairs

"This work makes a significant contribution to existing knowledge regarding the Korean economy and its components. Each chapter has an extensive list of references. To my knowledge, there is no single work with which this one competes. Its intended audiences are academics and the business community. However, general readers interested in the subject matter will find this work interesting because it is readable and does not overuse the lexicon of economics or business." Perspectives on Political Science

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