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The Case of the Korean Chaebol and the Automotive Industry（韩国的财阀和汽车业）
Authors: Seung-Il Jeong
This book criticizes the widespread view that the 1997 Asian crisis was due to 'crony capitalism' and puts the blame instead on misguided liberalization. It analyzes the case of Korea's business conglomerates, the chaebol , with particular attention to the car industry, to show how liberalization contributed to the crisis even at the level of the firm. It shows how those firms that had developed innovative capabilities survived the crisis much better than those that had merely expanded into markets opened up by liberalization.
Table of contents
Front Matter
Introduction
The Asian Crisis in 1997 and its Causes
Korea’s Economic Institutions and the Crisis
The Chaebol’s Corporate Governance and the Crisis
Korea’s Automotive Industry: The 1960s–90s
Hyundai Motor Company
Daewoo’s Global Management
Comparison of Hyundai and Daewoo in Research and Development
The Chaebol’s Diversification: Ssangyong and Samsung
Conclusion: Crisis, Restructuring, and the Future of Korea
Back Matter
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