5. History of US-Korea FTA
Although the treaty was signed on June 30, 2007, ratification of the agreement stalled when President George W. Bush's fast-track trade authority expired and a Democrat-controlled U.S. Congress expressed objections to the treaty related to concerns over bilateral trade in automobiles and U.S. beef exports. Nearly three years later, on June 26, 2010, President Barack Ob
재벌
A Business group that are owned and managed by Family members and relatives in many diversified business areas
Origin of Chaebol
1920s & 1930s after Japan’s colonial rule.
Japan set up companies in very strict control
Chaebol companies massively developed during president
Park Jung Hee in the 1960s & 1970s
The First Five-Year Economic Development Plan
(ONLY FEW GROUPS OF
1. Government by the wealthy
2. A country or society governed in this way
3. An elite or ruling class of people whose power derives from their wealth
∙ Heavy industry was dominated in Japan, and government supported Zaibatsu for rapid growth.
∙ Centralization of capital + Increasing productivity
Economic Improvement in Japan
1.Dirty Links between Politicians
PROS
1) More strategic autonomy over external
relationships.
ex) Ford accepted HMC’s decline to transfer
managerial authority to Ford in their strategic
alliance.
2) More strategic autonomy over own
technological and market development.
ex) HMC chose Mitsubishi over the US Big 3
and Toyota.
3) Full financial and personnel support from
“What Experts Say about the Causes of the IMF Crisis in South Korea”
Introduction
On Nov. 1997, Korea faced the IMF crisis, or also known as the financial crisis, which caused severe damage to the Korean economy. The new OECD member was reduced from being the world’s eleventh largest economy to an economy surviving on overnight loans from the international money markets. The won, the Korean
The postwar economy of South Korea was once regarded as one of the most successful cases of “shared growth”
Korea managed to provide for relatively higher growth rates and lower Gini coefficients than other regional economies from the early 1980s to the mid 1990s
After 1997 financial crisis, Korea has failed to restore the high level of social equality upheld during previous decades
2) Managing external debt using sustainability indicators
External debt management involves balancing resource mobilization and deployment as well as orderly repayment of future obligations. For sustainable debt management, policy makers need to project accurate debt dynamics that are sensitive to the way the current account deficits are being financed. If borrowed resources are not used produ
-Provides an opportunity to its employees to grow personally.
-Believes in innovation and creation.
-Greater emphasis on informal work culture.
-Empowers people and the employees are quite independent.
-Open culture the management-attracts, motivates and retains high quality people
When the south Korean economy experienced the first oil shock in early 1970s,there had been preliminary discussions whether there was need for an unemployment insurance system. In the latter half the 1970s, south korea’s economic structure was transformed from an agricultural to an industrial economy.the labour market in consequence went through major changes and the excess supply of labour was
기업의 자본구조결정은 부채와 자기자본을 어떻게 결합할 것인가에 관한 의사결정으로서, 기업가치 또는 주주의 부를 극대화하는 최적자본구조를 선택하는 것을 목적으로 하고 있다. 즉, 자본구조에서 부채의존도가 증가하게 되면 그것이 기업가치에 어떤 영향을 미치게 될 것인가를 설명하는 것이