Recent Developments in the Public-Enterprise Sector of Korea

Il Chong Nam

in Governance, Regulation, and Privatization in the Asia-Pacific Region

Published by University of Chicago Press

Published in print March 2004 | ISBN: 9780226386799
Published online February 2013 | e-ISBN: 9780226386966 | DOI:
Recent Developments in the Public-Enterprise Sector of Korea

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This chapter discusses the key aspects of the public-enterprise sector in Korea, as well as the privatization process. It also deals with the chaebol problem that has prevented privatization. The chapter is organized as follows. Section 4.2 provides an overview of the public-enterprise sector, encompassing the institutional frameworks governing public enterprises and their characteristics and positions in relevant markets. Section 4.3 provides key financial information on public enterprises, including revenues, profits, and debt-equity ratios. This section also compares the performance of large state-owned enterprises with that of chaebol firms. Section 4.4 describes the main elements of the 1997 Special Act on Privatization and analyzes the factors that led to the introduction of the act as well as its effects. Section 4.5 summarizes the privatization policies of the new administration and their results. A commentary is also included at the end of the chapter.

Keywords: public enterprises; privatization; chaebol firms; state-owned enterprises; 1997 Special Act on Privatization

Chapter.  14534 words. 

Subjects: Business and Management

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