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