The Political Economy of South Korea: A Necessary Transformation I. Introduction: In this paper‚ I will discuss the measures that the Republic of Korea’s (addressed as South Korea from here on out) government took in trying accomplishing economic development despite its several economic and political upheavals. I will‚ specifically‚ review the economic growth and institutions established in South Korea beginning in the 1950s‚ the process of democratization in South Korea‚ and the effects
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Japan there is no standard type of firm but the variance is much smaller to that of western countries. The major firm type in Japan is the Keiretsu‚ which literally means “a series of affiliations” which in fact resembles that of a super mega firm‚ excluding outsiders‚ allowing for no new completion and essentially creating a monopoly (Japanese123‚ 2010) A Keiretsu comes in two different forms vertical and horizontal‚ but this will focus more on the vertical as it
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Ministry of International Trade and Industry. The distinguishing characteristics of the Japanese economy during the "economic miracle" years included: the cooperation of manufacturers‚ suppliers‚ distributors‚ and banks in closely knit groups called keiretsu; the powerful enterprise unions and shuntō; cozy relations with government bureaucrats‚ and the guarantee of lifetime employment (shūshin koyō) in big corporations and highly unionized blue-collar factories. Since 1993‚ Japanese companies have begun
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FACULTY OF BUSINESS AND ECONOMICS KATHOLIEKE UNIVERSITEIT LEUVEN D0M19B - International Business Strategy SOUTH KOREA Shortened Country Attractiveness Report Antoine Hirschland Prof. Dr. Sleuwaegen Leo – 2010 – I. Introduction Thanks to the globalization‚ Asian economy is drawing more and more the attention of the rest of the world. Nevertheless‚ when we talk about economic growth in Asia‚ we think mostly about China‚ India or Japan whereas South Korean economy is staying
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and is paranoid about losing technological secrets to competitors. Silverlight Electronics is a Korean based company selling its high tech products in Korea and abroad. It is part of the SiverLight Chaebol; a family of firms held together by cross-ownership and close personal ties. The SilverLight Chaebol offers a horizontal multi-industry integration. Therefore‚ SilverLight’s products are mostly the result of the SilverLight Chaebol’s work rather than from SilverLight Electronics itself. The company
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ownership on dividend yield is positive particularly for the low growth firms. This is inconsistent with the view that the managerial ownership and institutional ownership reduce the need for the dividend mechanism. Finally‚ there is evidence that the Keiretsu classification affects relations between ownership structure and dividend payouts. Overall‚ the dividend policy appears to be used by Japanese low-growth firms to control the overinvestment problem. Free cash flow hypothesis is to some degree supported
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I. INTRODUCTION Domestic trade happens between two units in one country under the same political governance and directly influencing only one national market. On the other hand international trade happens between two units being under two different political systems‚ each controlling and caring for its own domestic trade‚ and directly influences both national markets. Trade between countries increases the variety of goods on local markets‚ lowers the prices on those products and gives chance for
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In the last decade‚ Asian countries have made great and rapid economic gains. As many Asian firms outperformed their US counterparts‚ some researchers began to speculate on whether the organizational structures of business groups—the Japanese conglomerates known as keiretsus—were the causes of these economicgains. Keiretsus are groups of independent companies operating in different markets with different products and services but under common administrative and financial controls. The groups depend
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For other uses‚ see Daewoo (disambiguation). Daewoo | Former type | chaebol | Fate | Bankrupt | Founded | March 22‚ 1967 | Defunct | August 26‚ 1999 | Headquarters | Seoul‚ South Korea | Key people | Kim Woo-jung‚ founder | Daewoo | Hangul | 대우 | Hanja | 大宇 | Revised Romanization | Dae-u | McCune–Reischauer | Taeu | Daewoo (Korean for "Great Universe") or the Daewoo Group was a major South Korean chaebol (conglomerate). It was founded on 22 March 1967 as Daewoo Industrial
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competences‚ that are technology and capabilities‚ the company obtained through joint venture and acquisition‚ which can be considered as intangible resources. Government may play an important role behind these activities because of their support of chaebols’ development. The following decade witnessed the company strengthening its R&D competences with the open of R&D Center in Suwon and Samsung Advanced Institute of Technology(SAIT) in 1980 and 1987 respectively. In 1983‚ the company began to produce
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