Financial Crisis and Transformation of Korean Business Groups: The Rise and Fall of Chaebols [Hardcover]

This book explores the strategies chaebols, Korean business groups, have pursued, and assesses their performance.This book explores the strategies that chaebols--Korean business groups--have pursued, examines their structures, and assesses their performance. In doing so, it highlights the strengths of chaebols that enabled their fast growth, as well as the weaknesses that waylaid them when the Asian crisis occurred. Professor Chang argues that the Korean government's restructuring efforts have not been successful. The treatment shows why measures that overhaul chaebols' financial structures and strengthen their systems of corporate governance are necessary. The author predicts that chaebols will reemerge as stronger, more focused global players.This book explores the strategies that chaebols--Korean business groups--have pursued, examines their structures, and assesses their performance. In doing so, it highlights the strengths of chaebols that enabled their fast growth, as well as the weaknesses that waylaid them when the Asian crisis occurred. Professor Chang argues that the Korean government's restructuring efforts have not been successful. The treatment shows why measures that overhaul chaebols' financial structures and strengthen their systems of corporate governance are necessary. The author predicts that chaebols will reemerge as stronger, more focused global players.This book explores the strategies that chaebols--Korean business groups--have pursued by examining their structures and assessing their performance. It highlights the strengths of chaebols that enable their fast growth, as well as the weaknesses that waylaid them when the 1999 Asian crisis occurred. Sea-Jin Chang asserts that the Korean government's restructuring efforts have not been successful and demonstrates why measures that overhaul chaebols' financial structures and strengthen their systems are necessary. He predicts that they will emerge again as stronger, more focused global players.1. IlÓÙ