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The Role of Foreign Investment in Korean Privatization

Author

Listed:
  • Yun, Mikyung

    (Korea Institute for International Economic Policy)

  • Park, Young-Ho

    (Korea Institute for International Economic Policy)

Abstract

This thesis is aiming at observing the privatization trend of the state-owned enterprises after the declaration of the privatization of a great number of the state-owned enterprises in 1998. This thesis analyzed and made comments on this issue, and got an enlightenment on the overseas sale of the state-owned enterprises, according to a deep analysis of POSCO's and KEPCO's achievement on privatization by issuing Depositary Receipts. To issue DR (deposit receipt of stock) in overseas did not restrict the holding limitation of foreigners; it also has the advantage of getting the domestic premium in Korea. So it is considered to be the principal method of the overseas sale of the state-owned enterprises. The result of this thesis shows that, generally speaking, the recent issue of the DR of state-owned enterprises is successful as a blueprint of privatization. But in order to maximize the scale of sales financing, it is necessary to implement sale strategies by way of taking the pre-market stabilization, using financial experts, accepting various skills of selling.

Suggested Citation

  • Yun, Mikyung & Park, Young-Ho, 1999. "The Role of Foreign Investment in Korean Privatization," East Asian Economic Review, Korea Institute for International Economic Policy, vol. 3(2), pages 29-70, June.
    • Handle: RePEc:ris:eaerev:0278
    DOI: 10.11644/KIEP.JEAI.1999.3.2.41
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    Cited by:

    1. Chan-Hyun Sohn, 2002. "Corporate Debt Resolution And The Role Of Foreign Capital In The Post-Crisis Restructuring Of The Republic Of Korea," The Developing Economies, Institute of Developing Economies, vol. 40(4), pages 564-586, December.

    More about this item

    Keywords

    Privatization; Foreign Investment; Korea;
    All these keywords.

    JEL classification:

    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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