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
Ethical Management in Korea is something that has been implemented over some time, trying to change employees and employers mind about how to do business.
This is the key to sustained corporate profitability and health in the global market.
Often, doing business with integrity requires companies to make extremely difficult choices between losing business while holding their ethical standards or
1. At a time, there are Positive evaluations and Negative evaluations
2. In Korea, it is regarded that Concentration of Financial power is caused by Cheabol.
3. Major stockholders participate in the management
4. Hierarchy in which the Power is concentrated is control pyramid
Breaking up a Chaebol ,
the business accomplishes the independent management as self-support and professiona
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
1. Legacy of Colonial Period and Geopolitical Importance
Colonial Legacy and Institutional Structure
The Philippines reformed their institution and system by Spain and the United States during the colonial period. However, the US failed to make an efficient administrative organization.
South Korean institution was highly influenced by Japan and US army military government. => Japan st