KED 중간고사1. President Park Cheong Hee can be considered a hero in Korea. Agree or Disagree? Why?I agree with that sentence. Actually, I think it is dangerous to say ParkCheongHee is a hero to my age group. Because he had been a president for a long time and his image is tainted with a instigation and fabrication. So some people say them he is a ‘Dictator’ . But people who lived and experienced Parkcheonghee president-period are still supporting him. And also conservatism too.why there are so different two evaluation of him ? because some people consider development as being more important than democracy and the other people think the other way.However I think current Korean economic circumstances is based on his economic achievement . Now , Korea is Global top ten country. And has many global companies. And his aggressive , innovative economic policy made Korean affluent.I don’t know why some people call him a cold dictator. A first medical insurance for the ordinary working class peoplfarming rather than heavy industry. But building expressway did bring us economic success. In 1961, GNP was 82 $. But it increased to 1636 $ in 1979 with 18% average increase. Korean, Underdeveloped country becomes a global top ten economy country. It is not a just Miracle and fortune. It is attributed to his foresight. And these expressways were so important for a Han’s river miracle.And also he established automotive industry and shipbuilding industry. He guaranteed a monopolistic market for automotive and brought companies. By these reasons, Korean automotive industry becomes a global top five market. Also shipbuilding had been first rank.therefore point of economy, he is a hero2. What is Saemaul Undong? Describe the processes and implementation. How did it help the Korean economy?Saemaul Undong is pan-national local development campaign. It’s base was to restore flood sufferers and rebuild farm village campaign. Self-reliance , Diligent were fundamentaless of Saemaul Undong.At the ld roads and bridge. Furthermore, most of Korean house were Grass-Roofed House. it was not good image and practical. it changed to modern.And government started a reclamation project and cultivating the waste mountains. So efficiency of territory was increased.Its start was simply developing farm village project. But it expanded to companies, factories . so it is called ‘ nationwide modernization movement by government’ .And living efficiency of citizen was highly increased.for outcome, Korean had been modernized quickly. And citizens got community spirit, spontaneous participation spirit which becomes a driving force to develop economy. But it was quite compulsory and standardized. Also, after fifth republic, it has a little bad image by some political reasons.during Saemaul Undong, also 5 years economy development plan was ongoing. so they are related each other. since last half century ago, Korea have experienced rapid growth and currently focus on creative economy based on innovatintry. so Saemaul Undong is sucecesful movement in that the other countries want to learn it. even though there were some political meaning , it is sure that Saemaul Undong is President Park Cheong Hee’s modernization of the fatherland outcome.Korea's economy is often characterized as "export-led" and government-led." Explain and support your answers with examples.In 1962, President Park Cheogn Hee announced 5 year’s plaaning of Economic development. This is government lead project 1962~1986.At first period of this plan, the main goals are ; ‘increasing productive of farming’, ‘expanding energy sources like electric, coal ‘ , ‘expanding basic and key industries’ , ‘securing social overhead capital’ , ‘ increasing in export’ and the influx of foreign capital was successful. So Korea became rapid growth economy country. And GNP per person increased to 123$ from 83$Second period; ‘ elevation of the industries, ‘seven hundred million $ by exporting’ , ‘ population control by family plan’ , avy-chemical industrialization. in 1973, there were ‘Oil shock’ but we overcame it by exporting-driving policy and a construction boom in Middle Easter4th period; ‘ innovation of technology ,increasing in working efficiency by developing society. In 1977, a trillion$ in exporting and GNP per person 944$ was successful. But there were second ‘Oil shock’ so in 1980 economic growth rate went ‘minus’ but in 1981 but Growth rate became 7.1%5th period; ‘ ‘expanding of employment chance’ , ‘ maximization of investing efficiency ‘ ‘expanding in savings’ , ‘promotion of competition’ , etcYes we can say Korea economy is ‘ Export-led industrialization’ and it is also related to 5year developing plan. Actually ‘Import-substitutive industrialization’ was main subject of first 5year plan. But it had many problems. Then government chose a export-led industrialization.‘Export led’ means selling to the world so Korea could expand larger market than selling to the domestic. So this successful strategy momy.
HYPERLINK "javascript:download_bbs(%22cours%22,%20%2235663%22);" KOREAN INTERNATINAL BUSINESS AND COMGLOMERATES COURSE.Q 1-1 Choose a case, a topic an event, a company, a leader or any that is related to any of the topics covered in the Korean International Business & Conglomerate course.DAEWOO’s Diversified business : DAEWOO was founded in 1967 by Kim woo joong. they started business with 5 employee and starting capital of 5,000,000 won ( about 5000 dollar ). From 1971~1975 their major business was light industry. What a surprising thing is that they diversified business to Financial, heavy industry, engine, shipbuilding etc. in 1976.The reason of fast change is that they were supported by Government’s 3rd 5-year economic development plan. Furthermore, they expanded business into heavy chemical industry and automobile, electronic. And their size was biggest in Korea. So they were nation’s first largest conglomerate before financial crisis came.DAEWOO’s vertical integration : Kim Wo Jely every day. His business ethic comes down to ‘ working hard ‘ .A momentum that made him legend was to expand business into Heavy chemical industry. In 1970s, Daewoo took over Korea Mechanic and Chosen Gongsa ( shipbuilding company) which were undergone deficit. even though M&A was not common in Korea It was very successful M&AMost successful achievement is Global business. Securing local base, He implemented Global business. He thought a simple trade was limited because global economic was getting blocked dramatically.And he always emphasizes on Management by Wandering Around. When Daewoo Shipbuilding company was about to be bankrupt, he came to site and stayed for 2 years to normalize the company.Even though DAEWOO ranked top 4th chaebol in 1996, DAEWOO group went bankrupt in 1999. They was not able to avoid financial crisis. And also Board members were responsible for itbut 15 years After dissolution of DAEWOO, Kim Wo Joong said that Daewoo was disbanded since political issue.Q1-2ates such as Samsung, LG, are producing it. no new producer came.Positively speaking, Korean conglomerates business is diversified. For example Samsung group’s represent business are so large in number such Mobile, Automobile, Heavy industry and Chemical industry, Electric etc,, that we cannot count on how many there are. And their technical skills are very well. So they can follow the constant changes in business.Compared these conglomerates with smaller enterprises companies, they are not stable and adaptable when new business becomes. And most of them are underdogs. And they undergo a manpower shortage since there are pretty big gap such as salary , company benefits.In conclusion, Korean conglomerates’ power will be getting strong Because a polarization between Conglomerate and smaller companies is getting worse. As well as conducting business will be difficult.Subjectively speaking, I think it is big problem that Korea government don’t foster smaller companies. And we know if smaller countries. So it must be so interesting topic as Korean and also foreigner.Chaebol, a CEO family possess many group’s affiliate with very small shares. And chaebol has absolute superiority in Korea economy.There are both positive and negative evaluations about Chaebols.For positive points, using inner cash flow, chaebols conducted business without a external capital. In 1960s they got benefit from government but a company which has poor outcome got reduced subsidy otherwise other government’s absolute benefits . So it helps them compete well in global market.Furthermore, conducting new business regardless of business cycle, they help country’s economy . and they buffered against external shock and it contributed to be stable with crisis. For example, Financial crisis in 1997, Country’s sales declined 43% but chaebols’ one 39%.At negative points, they recklessly diversified business into a business which is suitable for smaller companies. So it curb smaller companies’ grow with autonmy get damaged.Compared example with other countries such as Europe or USA. Management specialists performance depends on only result. So they conduct firing workers , closing factory to reduce cost.But in Korea, if Chaebol do that their conglomerate will go broke. So they do not business which is for a good account book.some politician and economists insist on chaebol reformation. But I have opposite opinion of it. any countries’ global company make their image good. And their employment effect is invaluable. And conglomerate is a symbol of science technic and national competitiveness.Actually we cannot deny that a social paradigm changes from a growth to sharing. But we don’t have to hit Chaebols . Media and analysts stress the only negative points of chaebols such as a cycle investment. I think it is slight one.And also it is capitalism period. so controlled by politician and government is quite dictatorial thinking. And also when chaebol reformation is implemented a powerful foreigr.