The Evolution of Large Corporations in Korea: A New Institutional Economics Perspective of the Chaebol

Controversy still looms large both in public and academic circles as to the role of large corporations in sustainable economic growth. In this book, the new-institutional economics perspective is adopted to clarify and answer some of the most critical questions relating to the behaviour of large corporations in Korea, or the chaebol, and the role and impact of institutions on their behaviour. The book proposes a new chaebol policy that should enhance chaebol competitiveness, by introducing a new paradigm for Korea's development strategy based firmly on a market economy that effectively breaks away from the government-led policies of the last three decades. The Evolution of Large Corporations in Korea is a unique approach to understanding the issues surrounding the chaebol and will, by constructing a viable path for the advancement of the Korean economy, be of great interest to government, policymakers and management consultants as well as academics and scholars of Asian studies, business economics and industrial organization.