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Historical Developments of Korean Capitalism. The Hyundai Business Group, 1940s-1990s

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  • Kwon, S.-H.

Abstract

The chaebol, family-controlled conglomerates, which now dominate the South Korean economy constitute a unique type of business enterprise in the development worldwide of capitalist economies. With the support of a developmentalist state, the chaebol played a central role in rapid industrialisation of the South Korean economy, which in turn facilitated the transformation of what were originally small, family capitalist enterprises in the late 1940s, to large scale industrial enterprises in the 1990s.

Suggested Citation

  • Kwon, S.-H., 1997. "Historical Developments of Korean Capitalism. The Hyundai Business Group, 1940s-1990s," Papers 115, The University of New South Wales. Department of Industrial Relations..
  • Handle: RePEc:fth:nswair:115
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    More about this item

    Keywords

    KOREA ; CAPITALISM;

    JEL classification:

    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • N75 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Asia including Middle East

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