The Neoliberal Strategy of South Korean Conglomerates

Kim, Kyung-Pil

doi:10.13169/worlrevipoliecon.13.1.0097

ScienceOpen: research and publishing network

For Publishers

For Researchers

Blog
About

Search
Advanced search

944

views

recommends

If you have found this article useful and you think it is important that researchers across the world have access, please consider donating, to ensure that this valuable collection remains Open Access.

The World Review of Political Economy is published by Pluto Journals, an Open Access publisher. This means that everyone has free and unlimited access to the full-text of all articles from our international collection of social science journals. Furthermore Pluto Journals authors don’t pay article processing charges (APCs).

scite_

World Review of Political Economy

Volume 13, Issue 1

Record: found
Abstract: found
Article: found

Is Open Access

The Neoliberal Strategy of South Korean Conglomerates

Published

research-article

Author(s): Kyung-Pil Kim

Publication date (Electronic, epreprint): 15 June 2022

Journal: World Review of Political Economy

Publisher: Pluto Journals

Keywords: chaebol, neoliberalism, crisis management, globalization, flexibilization, South Korea

Bookmark

Abstract

Neoliberal strategy, which was adopted and implemented after 1987, lies behind the success of South Korean conglomerates ( chaebols), and it was strengthened during the Asian financial crisis in 1997. Faced with new spatio-temporal conditions and the massive struggle of workers, the chaebols started a project to restore capitalist power. To this end, the chaebols actively supported the political powers who represented them and adopted American and Japanese strategies for globalization and flexibilization. After enduring the 1997 crisis, the chaebols shifted from growth- to profit-orientedness due to external pressures, and neoliberal strategy intensified due to an emphasis on globalization and flexibilization. However, the chaebols’ neoliberal strategy should be defined as distinctly Korean. They still maintain corporate governance in which the ownership and management are combined, mobilize resources for the owners’ objectives, and conduct unrelated diversification. In addition, the chaebols have accumulated capital by transforming themselves into industrial, commercial, or financial capital since the 1950s.

Content

Author and article information

Journal

Journal ID (doi): 10.13169/worlrevipoliecon

Title: World Review of Political Economy

Abbreviated Title: WRPE

Publisher: Pluto Journals

ISSN (Electronic): 2042-8928

Publication date (Electronic, epreprint): 15 June 2022

Volume: 13

Issue: 1

Pages: 97-117

Article

DOI: 10.13169/worlrevipoliecon.13.1.0097

SO-VID: 7d4d64b6-9ad8-4250-80a2-88da2ad7e59b

License:

All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

History

Page count

Pages: 21

References

B. Amable 2011. “ Morals and Politics in the Ideology of Neoliberalism.” Socio-Economic Review 9: 3– 30.
J. BeckerJ. JagerB. LeuboltR. Weissenbacher. 2010. “ Peripheral Financialization and Vulnerability to Crisis: A Regulationist Perspective.” Competition and Change 14 ( 3–4): 225– 247.
W. Bello 1994. Dark Victory: The United States, Structural Adjustment and Global Poverty. London: Pluto Press.
F. Block 1977. “ The Ruling Class Does Not Rule: Note on the Marxist Theory of the State.” Socialist Revolution 33: 6– 28.
C. Boggs 2000. The End of Politics: Corporate Power and the Decline of the Public Sphere. New York: The Guilford Press.
S. BraedlyM. Luxton, eds. 2010. Neoliberalism and Everyday Life. London: McGill-Queen’s University Press.
D. BryanM. Rafferty. 2006. Capitalism with Derivatives: A Political Economy of Financial Derivatives, Capital and Class. New York: Palgrave McMillan.
P. BurkettM. Hart-Landsberg. 2003. “ The Economic Crisis in Japan: Mainstream Perspectives and an Alternative View.” Critical Asian Studies 35 ( 3): 339– 372.
D. Cahill 2018. “ Polanyi, Hayek and Embedded Neoliberalism.” Globalizations 15 ( 7): 977– 994.
M. Castells 1992. “ Four Asian Tigers with a Dragon Head: A Comparative Analysis of the State: Economy, and Society in the Asia Pacific Rim.” In State and Development in the Asian Pacific Rim, edited by R. AppelbaumJ. Henderson, 33– 70. London: Sage Publications.
R. Castley 1997. Korea’s Economic Miracle: The Crucial Role of Japan. New York: St. Martin’s Press.
D.-O. Chang, ed. 2006. Labor in Globalising Asian Corporations: A Portrait of Struggle. Hong Kong: Asia Monitor Resource Centre.
H.-J. Chang 2002. “ Breaking the Mould: An Institutionalist Political Economy Alternative to the Neo-liberal Theory of the Market and the State.” Cambridge Journal of Economics 26 ( 5): 539– 559.
H.-J. ChangH.-J. ParkC.-G. Yoo. 1998. “ Interpreting the Korean Crisis: Financial Liberalisation, Industrial Policy and Corporate Governance.” Cambridge Journal of Economics 22 ( 6): 735– 746.
V. Chibber 1999. “ Building a Developmental State: The Korean Case Reconsidered.” Politics and Society 27: 309– 346.
D. Cho 2011. “ The Non-regular Worker Problem and Workers’ Struggle.” [In Korean.] The Korean Journal of Humanities and the Social Sciences 35 ( 1/2): 43– 74.
S.-R. Cho 1996. “ Economic Reforms and the Changes of State Strategies under President Roh’s Regime.” [In Korean.] Korean Political Science Review 30 ( 2): 187– 208.
I.-Y. Choi 2008. “ Samsung Management: The Making of Samsung Man.” [In Korean.] In Korean Society, Asking Samsung, edited by D.-M. ChoB.-C LeeW.-G. Song, 207– 238. Seoul: Humanitas.
D. ClawsonA. NeustadtlM. Weller. 1998. Dollars and Votes: How Business Campaign Contributions Subvert Democracy. Philadelphia: Temple University Press.
C. Crouch 2004. Post-Democracy. Cambridge: Polity.
C. Crouch 2011. The Strange Non-death of Neoliberalism. Cambridge: Polity.
P. DardotC. Laval. 2013. The New Way of the World: On Neoliberal Society. London: Verso.
N. Davidson 2018. “ Neoliberalism as a Class-Based Project.” In The Sage Handbook of Neoliberalism, edited by D. CahillM. CooperM. KoningsD. Primrose, 55– 68. London: Sage.
G. DumenilD. Levy. 2004. Capital Resurgent: Roots of the Neoliberal Revolution. Harvard: Harvard University Press.
T. Edsall 1984. The New Politics of Inequality. New York: W.W. Norton & Company.
G. Epstein, ed. 2005. Financialization and the World Economy. Cheltenham: Edward Elgar.
P. Evans 1995. Embedded Autonomy: States and Industrial Transformation. Princeton: Princeton University Press.
B. FineA. Saad-Filho. 2016. “ Thirteen Things You Need to Know about Neoliberalism.” Critical Sociology 43 ( 4–5): 685– 706.
FKI. 2011. 50 Years History of FKI. [In Korean.] Seoul: FKI Media.
Globalization Committee. 1998. Globalization Whitebook. [In Korean.] Seoul: Globalization Committee.
P. Gowan 1999. The Global Gamble: Washington’s Faustian Bid for World Dominance. London: Verso.
K. Gray 2008. “ The Global Uprising of Labor? The Korean Labor Movement and Neoliberal Social Corporatism.” Globalizations 5 ( 3): 483– 499.
J. HackerP. Pierson. 2011. Winner-Take-All Politics: How Washington Made the Rich Richer—And Turned Its Back on the Middle Class. New York: Simon & Schuster.
D. Harvey 1985. “ The Geopolitics of Capitalism.” In Social Relations and Spatial Structures, edited by D. GregoryJ. Urry, 126– 163. Oxford: Blackwell.
D. Harvey 2005. A Brief History of Neoliberalism. Oxford: Oxford University Press.
E. Helleiner 1994. States and the Reemergence of Global Finance: From Bretton Woods to the 1990s. Ithaca, NY: Cornell University Press.
M. Hobday 1995. Innovation in East Asia: The Challenge to Japan. Aldershot: Edward Elgar.
J.-P. Hong 2013. “ An Analysis of Determinants of Profit Rate in the Korean Manufacturing Industries.” [In Korean.] Marxism 10 ( 4): 10– 44.
B. Jackson 2016. “ Neoliberalism, Labour and Trade Union.” In The Handbook of Neoliberalism, edited by S. SpringerK. BirchJ. MacLeavy, 262– 270. New York: Routledge.
M. Jensen 2002. “ Value Maximization, Stakeholder Theory, and the Corporate Objective Function.” Business Ethics Quarterly 12 ( 2): 235– 256.
E. Jeong 2013. A Study on Employment Regime of Korea. [In Korean.] Seoul: Humanitas.
S.-J. Jeong 2004. “ Trend of Capital Accumulation in Korea after 1997 Crisis.” [In Korean.] Economy and Society 64: 84– 119.
J. Ji 2011a. “ The Complex Order of Neoliberalism: Financialization, Class Power, Privatization.” [In Korean.] Social Science Studies 19 ( 1): 194– 245.
J. Ji 2011b. The Origins and Formation of Neoliberalism in Korea. [In Korean.] Seoul: ChekSaeSang.
C. Jun 2011. “ Economic Restructuring and Securitization after the Korean Currency and Financial Crisis of 1997.” [In Korean.] Tendency and Vision 81: 71– 112.
D. Kang 2004. Crony Capitalism: Corruption and Development in South Korea and the Philippines. Cambridge: Cambridge University Press.
D. Kim 2018. “ Profit Rates and Capital Accumulation in the Korean Economy, 1970–2015.” [In Korean.] Marxism 15 ( 2): 96– 123.
E. Kim 1997. Big Business, Strong State: Collusion and Conflict in South Korean Development, 1960–1990. Albany: State University of New York Press.
K.-P. Kim 2017. “ A Study on Capital Circulation and Accumulation of Chaebols in Parks’s Era.” [In Korean.] Economy and Society 114: 225– 260.
K.-P. Kim 2018. “ The Transformation of Capital Accumulation Strategy of Chaebols after 1987: The Flexibilization of the Space, Form and Labor Forces.” [In Korean.] Economy and Society 118: 182– 212.
K.-P. Kim 2019a. “ The Conditions, Uneven Development, and Reproduction of Neoliberalization.” [In Korean.] Journal of Social Science 58 ( 2): 177– 205.
K.-P. Kim 2019b. “ Crisis Management in South Korea and the Hegemonic Strategy of the Chaebols.” Monthly Review 70 ( 11): 22– 34.
K.-P. Kim 2020. “ Democratizing the Economy: Moon Jae-In’s Policy on the Korean Economy.” [In Korean.] Economy and Society 126: 278– 301.
Korea Development Bank. 1995. Facility Investment of Korea. [In Korean.] Seoul: Korea Development Bank.
Korea Development Bank. 2002. Facility Investment of Korea. [In Korean.] Seoul: Korea Development Bank.
D. Kotz 2015. The Rise and Fall of Neoliberal Capitalism. Cambridge: Harvard University Press.
G. Krippner 2005. “ The Financialization of the American Economy.” Socio-Economic Review 3 ( 2): 173– 208.
G. Krippner 2011. Capitalizing on Crisis: The Political Origins of the Rise of Finance. Harvard: Harvard University Press.
J.-S. Kwak 2012. The Chaebols’ Rice Bowl. [In Korean.] Seoul: Hongik.
C. Lapavitsas 2013. Profiting without Producing: How Finance Exploits Us All. London: Verso.
W. LazonickM. O’Sullivan. 2000. “ Maximising Shareholder Value: A New Ideology for Corporate Governance.” Economy and Society 29 ( 1): 13– 35.
B.-C. Lee 2012. “ Some Characteristics of 97 Regime of Korean Economy.” [In Korean.] Tendency and Vision 86: 78– 133.
B.-C. LeeJ. JeongK. Choi. 2014. “ An Analysis of the Accumulation Mode of Samsung Electronics.” [In Korean.] Tendency and Vision 92: 129– 173.
D. Lee 2011. “ The Change of Capital Accumulation Crisis Forms before and after the Currency Crisis.” [In Korean.] Economics Research 59 ( 4): 169– 198.
W.-B. Lee 2015. The Dark History of Korean Chaebols, vol. 1. [In Korean.] Seoul: Minjoongaesori.
Y. Lee 2015. “ Labor after Neoliberalism: The Birth of Insecure Class in South Korea.” Globalizations 12 ( 2): 184– 202.
LG. 1997. 50 Years History of LG. [In Korean.] Seoul: LG.
H. Lin 2009. “ Competition Based on Marketing Resources: Catch-Up Strategies of South Korean Firms in China.” China Information: Journal on Contemporary China Studies 23 ( 1): 129– 157.
H. Macartney 2011. Variegated Neoliberalism: EU Varieties of Capitalism and International Political Economy. London: Routledge.
M. Maruyama 1963. Thought and Behaviour in Modern Japanese Politics. Oxford: Oxford University Press.
P. Mirowski 2013. Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown. London: Verso.
P. MirowskiD. Plehwe, eds. 2009. The Road from Mont Pelerin: The Making of the Neoliberal Thought Collective. London: Harvard University Press.
S. Mudge 2008. “ The State of Art: What Is Neoliberalism?” Socio-Economic Review 6: 703– 731.
R. Munck 2005. “ Neoliberalism and Politics, and the Politics of Neoliberalism.” In Neoliberalism: A Critical Reader, edited by A. Saad-FilhoD. Johnston, 60– 69. London: Pluto Press.
J.-S. Nam 2019. “ Structural Characteristics and Crisis of Korean Industrial Ecosystem.” [In Korean.] The Radical Review 79: 13– 49.
J. O’Connor 2010. “ Marxism and the Three Movements of Neoliberalism.” Critical Sociology 36 ( 5): 691– 715.
P. O’NeillS. Weller. 2016. “ Neoliberalism in Question.” In The Handbook of Neoliberalism, edited by S. SpringerK. BirchJ. MacLeavy, 84– 92. New York: Routledge.
H. OverbeekB. Apeldoorn, eds. 2012. Neoliberalism in Crisis. New York: Palgrave Macmillan.
L. PanitchS. Gindin. 2004. “ Global Capitalism and American Empire.” In Socialist Register 2004: The New Imperial Challenge, edited by L. PanitchC. Ley, 1– 42. London: Merlin Press.
L. PanitchS. Gindin. 2012. The Making of Global Capitalism: The Political Economy of American Empire. London: Verso.
L. PanitchM. Konings, eds. 2008. American Empire and the Political Economy of Global Finance. London: Palgrave Macmillan.
C.-U. ParkS. ChoH.-M. Cha. 2017. “ Financialization of the Korean Economy and Its Implications.” [In Korean.] Korean Journal of Sociology 51 ( 1): 91– 128.
G.-S. ParkK.-P. Kim. 2008. “ Financial Crisis and Minority Shareholders’ Movement in Korea.” [In Korean.] Korean Journal of Sociology 42 ( 8): 59– 76.
H. Park 2013. The Transnational Capital that Dominates Korea. [In Korean.] Seoul: ChekSaeSang.
J.-S. Park 1997. “ Workplace Politics and Labor’s Civil Right after 1987.” [In Korean.] Economy and Society 36: 157– 197.
J. Peck 2010. Constructions of Neoliberal Reason. Oxford: Oxford University Press.
P. Pierson 1994. Dismantling the Welfare State? Reagan, Thatcher and the Politics of Retrenchment. Cambridge: Cambridge University Press.
L. PradellaT. Marois. 2015. Polarizing Development: Alternatives to Neoliberalism and the Crisis. London: Pluto Press.
M. Prasad 2006. The Politics of Free Markets: The Rise of Neoliberal Economic Policies in Britain, France, Germany, and the United States. Chicago: The University of Chicago Press.
Samsung. 1998. 60 Years History of Samsung. [In Korean.] Seoul: Samsung.
Samsung Electronics. 2010. 40 Years of Samsung Electronics: 1969–2009. [In Korean.] Suwon: Samsung Electronics.
D.-J. Seo 2011. “ Innovation, Autonomy, and Democratization . . . and Management: Foucault’s Governmentality Analysis as Critical Inquiry of Neoliberalism.” [In Korean.] Economy and Society 89: 71– 104.
H. SeoK. KimY. Lee. 2011. “ Does Financialization Induce the Slowdown of Korean Firms’ Investment?” [In Korean.] Koreanische Zeitschrift fuer Wirtschriftswissenschaften 29 ( 3): 137– 163.
SK. 2013. 60 Years History of SK: 1953–2013. [In Korean.] Seoul: SK.
M. Smith 2000. American Business and Political Power: Public Opinions, Elections, and Democracy. Chicago: The University of Chicago Press.
S. Soederberg 2004. The Politics of the New International Financial Architecture: Re-imposing Neoliberal Domination in the Global South. London: Zed Books.
J. SongK. Lee. 2014. The Samsung Way: Transformation Management Strategies from the World Leader in Innovation and Design. New York: McGraw-Hill.
W.-K. SongS.-H. Lee. 2005. The Business Structure of Korean Chaebols and Concentration of Economic Power. [In Korean.] Paju: Nanam.
R. Venugopal 2015. “ Neoliberalism as Concept.” Economy and Society 44 ( 2): 165– 187.
R. WadeF. Veneroso. 1998. “ The Asian Crisis: The High Debt Model versus Wall Street-Treasury-IMF Complex.” New Left Review 228: 3– 23.
P.-R. Wi 2018. “ Analysis of Dynamic Changes and Implications of Korea’s Top 500 Companies.” [In Korean.] Economic Reform Report 8: 1– 25.
C.-G. Yoo 2004. “ The Dilemma of Chaebols and Foreign Capital.” [In Korean.] In The Demise of Korean Economy, edited by C.-G. Lee, 217– 233. Seoul: 21Saegibooks.

Comments

Comment on this article

[1] B. Amable 2011. “ Morals and Politics in the Ideology of Neoliberalism.” Socio-Economic Review 9: 3– 30.

[2] J. BeckerJ. JagerB. LeuboltR. Weissenbacher. 2010. “ Peripheral Financialization and Vulnerability to Crisis: A Regulationist Perspective.” Competition and Change 14 ( 3–4): 225– 247.

[3] W. Bello 1994. Dark Victory: The United States, Structural Adjustment and Global Poverty. London: Pluto Press.

[4] F. Block 1977. “ The Ruling Class Does Not Rule: Note on the Marxist Theory of the State.” Socialist Revolution 33: 6– 28.

[5] C. Boggs 2000. The End of Politics: Corporate Power and the Decline of the Public Sphere. New York: The Guilford Press.

[6] S. BraedlyM. Luxton, eds. 2010. Neoliberalism and Everyday Life. London: McGill-Queen’s University Press.

[7] D. BryanM. Rafferty. 2006. Capitalism with Derivatives: A Political Economy of Financial Derivatives, Capital and Class. New York: Palgrave McMillan.

[8] P. BurkettM. Hart-Landsberg. 2003. “ The Economic Crisis in Japan: Mainstream Perspectives and an Alternative View.” Critical Asian Studies 35 ( 3): 339– 372.

[9] D. Cahill 2018. “ Polanyi, Hayek and Embedded Neoliberalism.” Globalizations 15 ( 7): 977– 994.

[10] M. Castells 1992. “ Four Asian Tigers with a Dragon Head: A Comparative Analysis of the State: Economy, and Society in the Asia Pacific Rim.” In State and Development in the Asian Pacific Rim, edited by R. AppelbaumJ. Henderson, 33– 70. London: Sage Publications.

[11] R. Castley 1997. Korea’s Economic Miracle: The Crucial Role of Japan. New York: St. Martin’s Press.

[12] D.-O. Chang, ed. 2006. Labor in Globalising Asian Corporations: A Portrait of Struggle. Hong Kong: Asia Monitor Resource Centre.

[13] H.-J. Chang 2002. “ Breaking the Mould: An Institutionalist Political Economy Alternative to the Neo-liberal Theory of the Market and the State.” Cambridge Journal of Economics 26 ( 5): 539– 559.

[14] H.-J. ChangH.-J. ParkC.-G. Yoo. 1998. “ Interpreting the Korean Crisis: Financial Liberalisation, Industrial Policy and Corporate Governance.” Cambridge Journal of Economics 22 ( 6): 735– 746.

[15] V. Chibber 1999. “ Building a Developmental State: The Korean Case Reconsidered.” Politics and Society 27: 309– 346.

[16] D. Cho 2011. “ The Non-regular Worker Problem and Workers’ Struggle.” [In Korean.] The Korean Journal of Humanities and the Social Sciences 35 ( 1/2): 43– 74.

[17] S.-R. Cho 1996. “ Economic Reforms and the Changes of State Strategies under President Roh’s Regime.” [In Korean.] Korean Political Science Review 30 ( 2): 187– 208.

[18] I.-Y. Choi 2008. “ Samsung Management: The Making of Samsung Man.” [In Korean.] In Korean Society, Asking Samsung, edited by D.-M. ChoB.-C LeeW.-G. Song, 207– 238. Seoul: Humanitas.

[19] D. ClawsonA. NeustadtlM. Weller. 1998. Dollars and Votes: How Business Campaign Contributions Subvert Democracy. Philadelphia: Temple University Press.

[20] C. Crouch 2004. Post-Democracy. Cambridge: Polity.

[21] C. Crouch 2011. The Strange Non-death of Neoliberalism. Cambridge: Polity.

[22] P. DardotC. Laval. 2013. The New Way of the World: On Neoliberal Society. London: Verso.

[23] N. Davidson 2018. “ Neoliberalism as a Class-Based Project.” In The Sage Handbook of Neoliberalism, edited by D. CahillM. CooperM. KoningsD. Primrose, 55– 68. London: Sage.

[24] G. DumenilD. Levy. 2004. Capital Resurgent: Roots of the Neoliberal Revolution. Harvard: Harvard University Press.

[25] T. Edsall 1984. The New Politics of Inequality. New York: W.W. Norton & Company.

[26] G. Epstein, ed. 2005. Financialization and the World Economy. Cheltenham: Edward Elgar.

[27] P. Evans 1995. Embedded Autonomy: States and Industrial Transformation. Princeton: Princeton University Press.

[28] B. FineA. Saad-Filho. 2016. “ Thirteen Things You Need to Know about Neoliberalism.” Critical Sociology 43 ( 4–5): 685– 706.

[29] FKI. 2011. 50 Years History of FKI. [In Korean.] Seoul: FKI Media.

[30] Globalization Committee. 1998. Globalization Whitebook. [In Korean.] Seoul: Globalization Committee.

[31] P. Gowan 1999. The Global Gamble: Washington’s Faustian Bid for World Dominance. London: Verso.

[32] K. Gray 2008. “ The Global Uprising of Labor? The Korean Labor Movement and Neoliberal Social Corporatism.” Globalizations 5 ( 3): 483– 499.

[33] J. HackerP. Pierson. 2011. Winner-Take-All Politics: How Washington Made the Rich Richer—And Turned Its Back on the Middle Class. New York: Simon & Schuster.

[34] D. Harvey 1985. “ The Geopolitics of Capitalism.” In Social Relations and Spatial Structures, edited by D. GregoryJ. Urry, 126– 163. Oxford: Blackwell.

[35] D. Harvey 2005. A Brief History of Neoliberalism. Oxford: Oxford University Press.

[36] E. Helleiner 1994. States and the Reemergence of Global Finance: From Bretton Woods to the 1990s. Ithaca, NY: Cornell University Press.

[37] M. Hobday 1995. Innovation in East Asia: The Challenge to Japan. Aldershot: Edward Elgar.

[38] J.-P. Hong 2013. “ An Analysis of Determinants of Profit Rate in the Korean Manufacturing Industries.” [In Korean.] Marxism 10 ( 4): 10– 44.

[39] B. Jackson 2016. “ Neoliberalism, Labour and Trade Union.” In The Handbook of Neoliberalism, edited by S. SpringerK. BirchJ. MacLeavy, 262– 270. New York: Routledge.

[40] M. Jensen 2002. “ Value Maximization, Stakeholder Theory, and the Corporate Objective Function.” Business Ethics Quarterly 12 ( 2): 235– 256.

[41] E. Jeong 2013. A Study on Employment Regime of Korea. [In Korean.] Seoul: Humanitas.

[42] S.-J. Jeong 2004. “ Trend of Capital Accumulation in Korea after 1997 Crisis.” [In Korean.] Economy and Society 64: 84– 119.

[43] J. Ji 2011a. “ The Complex Order of Neoliberalism: Financialization, Class Power, Privatization.” [In Korean.] Social Science Studies 19 ( 1): 194– 245.

[44] J. Ji 2011b. The Origins and Formation of Neoliberalism in Korea. [In Korean.] Seoul: ChekSaeSang.

[45] C. Jun 2011. “ Economic Restructuring and Securitization after the Korean Currency and Financial Crisis of 1997.” [In Korean.] Tendency and Vision 81: 71– 112.

[46] D. Kang 2004. Crony Capitalism: Corruption and Development in South Korea and the Philippines. Cambridge: Cambridge University Press.

[47] D. Kim 2018. “ Profit Rates and Capital Accumulation in the Korean Economy, 1970–2015.” [In Korean.] Marxism 15 ( 2): 96– 123.

[48] E. Kim 1997. Big Business, Strong State: Collusion and Conflict in South Korean Development, 1960–1990. Albany: State University of New York Press.

[49] K.-P. Kim 2017. “ A Study on Capital Circulation and Accumulation of Chaebols in Parks’s Era.” [In Korean.] Economy and Society 114: 225– 260.

[50] K.-P. Kim 2018. “ The Transformation of Capital Accumulation Strategy of Chaebols after 1987: The Flexibilization of the Space, Form and Labor Forces.” [In Korean.] Economy and Society 118: 182– 212.

[51] K.-P. Kim 2019a. “ The Conditions, Uneven Development, and Reproduction of Neoliberalization.” [In Korean.] Journal of Social Science 58 ( 2): 177– 205.

[52] K.-P. Kim 2019b. “ Crisis Management in South Korea and the Hegemonic Strategy of the Chaebols.” Monthly Review 70 ( 11): 22– 34.

[53] K.-P. Kim 2020. “ Democratizing the Economy: Moon Jae-In’s Policy on the Korean Economy.” [In Korean.] Economy and Society 126: 278– 301.

[54] Korea Development Bank. 1995. Facility Investment of Korea. [In Korean.] Seoul: Korea Development Bank.

[55] Korea Development Bank. 2002. Facility Investment of Korea. [In Korean.] Seoul: Korea Development Bank.

[56] D. Kotz 2015. The Rise and Fall of Neoliberal Capitalism. Cambridge: Harvard University Press.

[57] G. Krippner 2005. “ The Financialization of the American Economy.” Socio-Economic Review 3 ( 2): 173– 208.

[58] G. Krippner 2011. Capitalizing on Crisis: The Political Origins of the Rise of Finance. Harvard: Harvard University Press.

[59] J.-S. Kwak 2012. The Chaebols’ Rice Bowl. [In Korean.] Seoul: Hongik.

[60] C. Lapavitsas 2013. Profiting without Producing: How Finance Exploits Us All. London: Verso.

[61] W. LazonickM. O’Sullivan. 2000. “ Maximising Shareholder Value: A New Ideology for Corporate Governance.” Economy and Society 29 ( 1): 13– 35.

[62] B.-C. Lee 2012. “ Some Characteristics of 97 Regime of Korean Economy.” [In Korean.] Tendency and Vision 86: 78– 133.

[63] B.-C. LeeJ. JeongK. Choi. 2014. “ An Analysis of the Accumulation Mode of Samsung Electronics.” [In Korean.] Tendency and Vision 92: 129– 173.

[64] D. Lee 2011. “ The Change of Capital Accumulation Crisis Forms before and after the Currency Crisis.” [In Korean.] Economics Research 59 ( 4): 169– 198.

[65] W.-B. Lee 2015. The Dark History of Korean Chaebols, vol. 1. [In Korean.] Seoul: Minjoongaesori.

[66] Y. Lee 2015. “ Labor after Neoliberalism: The Birth of Insecure Class in South Korea.” Globalizations 12 ( 2): 184– 202.

[67] LG. 1997. 50 Years History of LG. [In Korean.] Seoul: LG.

[68] H. Lin 2009. “ Competition Based on Marketing Resources: Catch-Up Strategies of South Korean Firms in China.” China Information: Journal on Contemporary China Studies 23 ( 1): 129– 157.

[69] H. Macartney 2011. Variegated Neoliberalism: EU Varieties of Capitalism and International Political Economy. London: Routledge.

[70] M. Maruyama 1963. Thought and Behaviour in Modern Japanese Politics. Oxford: Oxford University Press.

[71] P. Mirowski 2013. Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown. London: Verso.

[72] P. MirowskiD. Plehwe, eds. 2009. The Road from Mont Pelerin: The Making of the Neoliberal Thought Collective. London: Harvard University Press.

[73] S. Mudge 2008. “ The State of Art: What Is Neoliberalism?” Socio-Economic Review 6: 703– 731.

[74] R. Munck 2005. “ Neoliberalism and Politics, and the Politics of Neoliberalism.” In Neoliberalism: A Critical Reader, edited by A. Saad-FilhoD. Johnston, 60– 69. London: Pluto Press.

[75] J.-S. Nam 2019. “ Structural Characteristics and Crisis of Korean Industrial Ecosystem.” [In Korean.] The Radical Review 79: 13– 49.

[76] J. O’Connor 2010. “ Marxism and the Three Movements of Neoliberalism.” Critical Sociology 36 ( 5): 691– 715.

[77] P. O’NeillS. Weller. 2016. “ Neoliberalism in Question.” In The Handbook of Neoliberalism, edited by S. SpringerK. BirchJ. MacLeavy, 84– 92. New York: Routledge.

[78] H. OverbeekB. Apeldoorn, eds. 2012. Neoliberalism in Crisis. New York: Palgrave Macmillan.

[79] L. PanitchS. Gindin. 2004. “ Global Capitalism and American Empire.” In Socialist Register 2004: The New Imperial Challenge, edited by L. PanitchC. Ley, 1– 42. London: Merlin Press.

[80] L. PanitchS. Gindin. 2012. The Making of Global Capitalism: The Political Economy of American Empire. London: Verso.

[81] L. PanitchM. Konings, eds. 2008. American Empire and the Political Economy of Global Finance. London: Palgrave Macmillan.

[82] C.-U. ParkS. ChoH.-M. Cha. 2017. “ Financialization of the Korean Economy and Its Implications.” [In Korean.] Korean Journal of Sociology 51 ( 1): 91– 128.

[83] G.-S. ParkK.-P. Kim. 2008. “ Financial Crisis and Minority Shareholders’ Movement in Korea.” [In Korean.] Korean Journal of Sociology 42 ( 8): 59– 76.

[84] H. Park 2013. The Transnational Capital that Dominates Korea. [In Korean.] Seoul: ChekSaeSang.

[85] J.-S. Park 1997. “ Workplace Politics and Labor’s Civil Right after 1987.” [In Korean.] Economy and Society 36: 157– 197.

[86] J. Peck 2010. Constructions of Neoliberal Reason. Oxford: Oxford University Press.

[87] P. Pierson 1994. Dismantling the Welfare State? Reagan, Thatcher and the Politics of Retrenchment. Cambridge: Cambridge University Press.

[88] L. PradellaT. Marois. 2015. Polarizing Development: Alternatives to Neoliberalism and the Crisis. London: Pluto Press.

[89] M. Prasad 2006. The Politics of Free Markets: The Rise of Neoliberal Economic Policies in Britain, France, Germany, and the United States. Chicago: The University of Chicago Press.

[90] Samsung. 1998. 60 Years History of Samsung. [In Korean.] Seoul: Samsung.

[91] Samsung Electronics. 2010. 40 Years of Samsung Electronics: 1969–2009. [In Korean.] Suwon: Samsung Electronics.

[92] D.-J. Seo 2011. “ Innovation, Autonomy, and Democratization . . . and Management: Foucault’s Governmentality Analysis as Critical Inquiry of Neoliberalism.” [In Korean.] Economy and Society 89: 71– 104.

[93] H. SeoK. KimY. Lee. 2011. “ Does Financialization Induce the Slowdown of Korean Firms’ Investment?” [In Korean.] Koreanische Zeitschrift fuer Wirtschriftswissenschaften 29 ( 3): 137– 163.

[94] SK. 2013. 60 Years History of SK: 1953–2013. [In Korean.] Seoul: SK.

[95] M. Smith 2000. American Business and Political Power: Public Opinions, Elections, and Democracy. Chicago: The University of Chicago Press.

[96] S. Soederberg 2004. The Politics of the New International Financial Architecture: Re-imposing Neoliberal Domination in the Global South. London: Zed Books.

[97] J. SongK. Lee. 2014. The Samsung Way: Transformation Management Strategies from the World Leader in Innovation and Design. New York: McGraw-Hill.

[98] W.-K. SongS.-H. Lee. 2005. The Business Structure of Korean Chaebols and Concentration of Economic Power. [In Korean.] Paju: Nanam.

[99] R. Venugopal 2015. “ Neoliberalism as Concept.” Economy and Society 44 ( 2): 165– 187.

[100] R. WadeF. Veneroso. 1998. “ The Asian Crisis: The High Debt Model versus Wall Street-Treasury-IMF Complex.” New Left Review 228: 3– 23.

[101] P.-R. Wi 2018. “ Analysis of Dynamic Changes and Implications of Korea’s Top 500 Companies.” [In Korean.] Economic Reform Report 8: 1– 25.

[102] C.-G. Yoo 2004. “ The Dilemma of Chaebols and Foreign Capital.” [In Korean.] In The Demise of Korean Economy, edited by C.-G. Lee, 217– 233. Seoul: 21Saegibooks.

World Review of Political Economy

The Neoliberal Strategy of South Korean Conglomerates

Journal

Article

History

Page count

Categories

Comment on this article