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Economic Crisis and Corporate Restructuring in Korea
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Details

  • Page extent: 364 pages
  • Size: 228 x 152 mm
  • Weight: 0.699 kg

Library of Congress

  • Dewey number: 338.8/095195
  • Dewey version: 21
  • LC Classification: HD2756.2.K8 E26 2003
  • LC Subject headings:
    • Conglomerate corporations--Korea (South)
    • Corporate reorganizations--Korea (South)
    • Financial crises--Korea (South)
    • Structural adjustment (Economic policy)--Korea (South)

Library of Congress Record

Hardback

 (ISBN-13: 9780521823630 | ISBN-10: 0521823633)

Asian business conglomerates have clearly been successful agents of growth, mobilizing capital, borrowing technology from abroad and spearheading Asia's exports. However, these firms have long had a number of organisational and financial weaknesses, including heavy reliance on debt, 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. This collection of essays by leading political scientists and economists provides a comprehensive look at the chaebol problem in the wake of the Asian financial crisis. The authors consider the historical evolution of the chaebol and their contribution to the onset of economic turmoil in 1997. The book analyses the government's short-run response to corporate and financial distress, and outlines an agenda for longer-term reform of the financial system, corporate governance and the politics of business-government relations.

• A comprehensive single-volume study currently available on Asian business since the Asian financial crisis • The collection is authored by political scientists and economists who bring different perspectives to the subject • Of interdisciplinary appeal to scholars and graduates in politics, economics, Asian studies

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.

Reviews

Review of the hardback: ' … a well-planned volume. … written by sophisticated political economists. The Haggard, Lim and Kim volume is a significant addition to the literature on the Asian financial crisis.' International Affairs

Review of the hardback: 'This study will probably become the leading reference in English on how Korean policymakers addressed the chaebol issue in the aftermath of the 1997 crisis.' The Journal of Asian Studies

Contributors

Wonhyuk Lim, Stephan Haggard, Euysung Kim, Byung-Kook Kim, Joon-Ho Hahm, Sung Wook Joh, Euysung Kim, Jongryn Mo, Chung-in Moon, Dong Gull Lee, Kyung Suh Park, Youngjae Lim, Mikyung Yun, Kwang-Shik Shin, Myeong-Hyeon Cho

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