Debunks the rosy success story about South Korean economic development by analyzing how the state and businesses formed an alliance, while excluding labor, in order to attain economic development, and how these three entities were transformed in the process. Examines development in the country between 1960 and 1990, looking at the interaction between social, economic, and political changes, and describes collaboration and conflict between the state and business. Annotation copyrighted by Book News, Inc., Portland, OR

Focuses on the paradox of development in the newly industrializing country of South Korea.

In Big Business and the State Harland Prechel develops a conceptual framework that contrasts with prevailing definitions of the corporation. His analysis shows that corporate property rights and the legal basis of ownership are crucial to understanding corporate behavior. The book examines how historical transitions affected the three most significant corporate transformations in the last 110 years (1880s–1900s, 1920s–1930s, 1980s–1990s). During each period, in response to economic crisis, big business engaged in political behavior to pressure state managers to realign the institutional arrangements in which corporations were embedded. The historical multicausal method shows that economic crisis, managerial inefficiencies, dependence on external capital markets, and the political processes of redefining corporate property rights and corporate tax laws are crucial to understanding corporate transformation.

This book examines how the South Korean state is able to execute national policies that are opposed to the interests of social constituents, despite the expansion of social power. The relationship between the government and big business provides an illuminating example of this. The author demonstrates how Confucian values, the role of the family and a firm hierarchical tradition have prevented South Korea from developing a modern state on the Western model.

First published in 1999, this book explores the question of is the business organisation a result of efficiency or is it a result of a state-business organisation a result of a state-business interaction? This question being in the context of the Korean chaebol system and the Japanese Keiretsu system; this book explores the political and economic growth and then the following down fall of these systems occurred without rupturing either country’s state policy regarding the chaebol or the keiretsu.

In 1961 South Korea was mired in poverty. By 1979 it had a powerful industrial economy and a vibrant civil society in the making, which would lead to a democratic breakthrough eight years later. The transformation took place during the years of Park Chung Hee's presidency. Park seized power in a coup in 1961 and ruled as a virtual dictator until his assassination in October 1979. He is credited with modernizing South Korea, but at a huge political and social cost. South Korea's political landscape under Park defies easy categorization. The state was predatory yet technocratic, reform-minded yet quick to crack down on dissidents in the name of political order. The nation was balanced uneasily between opposition forces calling for democratic reforms and the Park government's obsession with economic growth. The chaebol (a powerful conglomerate of multinationals based in South Korea) received massive government support to pioneer new growth industries, even as a nationwide campaign of economic shock therapy-interest hikes, devaluation, and wage cuts-met strong public resistance and caused considerable hardship. This landmark volume examines South Korea's era of development as a study in the complex politics of modernization. Drawing on an extraordinary range of sources in both English and Korean, these essays recover and contextualize many of the ambiguities in South Korea's trajectory from poverty to a sustainable high rate of economic growth.

Now in a fully revised and updated edition, this history of modern Korea explores the social, economic, and political issues it has faced since being catapulted into the wider world at the end of the nineteenth century. Placing this formerly insular society in a global context, Michael J. Seth describes how this ancient, culturally and ethnically homogeneous society first fell victim to Japanese imperialist expansionism, and then was arbitrarily divided in half after World War II. Seth traces the postwar paths of the two Koreas—with different political and social systems and different geopolitical orientations—as they evolved into sharply contrasting societies. South Korea, after an unpromising start, became one of the few postcolonial developing states to enter the ranks of the first world, with a globally competitive economy, a democratic political system, and a cosmopolitan and dynamic culture. By contrast, North Korea became one of the world's most totalitarian and isolated societies, a nuclear power with an impoverished and famine-stricken population. Considering the radically different and historically unprecedented trajectories of the two Koreas, Seth assesses the insights they offer for understanding not only modern Korea but the broader perspective of world history. All readers looking for a balanced, knowledgeable history will be richly rewarded with this clear and cogent book.