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Business Organization

In: Historical Statistics of Korea

Author

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  • Jea Hwan Hong

    (Korea Institute for National Unification)

Abstract

In 1912, the colonial government of Korea promulgated a system of civil codes, allowing business organizations to exist as legal entities and triggering an explosive growth in the number of firms in the following century. The number of companies increased from 248 to 7148 from 1917 to 1945. Initiated by Japanese investment, the multiplication was driven to an increasing degree by the emergence of corporations owned and operated by Koreans. The pre-1945 boom was followed by an even more rapid proliferation of companies from 11,467 to 673,374 from 1967 to 2015 in South Korea. This chapter classifies business organizations into three types: sole ownership enterprises, corporations, and business groups, known as chaebol.

Suggested Citation

  • Jea Hwan Hong, 2022. "Business Organization," Studies in Economic History, in: Myung Soo Cha & Nak Nyeon Kim & Ki-Joo Park & Yitaek Park (ed.), Historical Statistics of Korea, chapter 0, pages 951-981, Springer.
    • Handle: RePEc:spr:stechp:978-981-15-3874-2_18
    DOI: 10.1007/978-981-15-3874-2_18
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