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Chaebols and South Korean government: What are the problems and benefits of their Relationships until the financial crisis?

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  1. Prosperous relationships between 1960 's to 1980's
    1. Context of relationships : the developmental state
    2. Benefits
    3. Problems
  2. The declining influence of government 80's- 87
    1. Context of relationships
    2. Benefits
    3. Problems
    4. Context of relationships
    5. Benefit for chaebols and problems of the state
    6. Context of relationship
  3. Towards more peaceful relationships
    1. Context of relationships
    2. Benefts
    3. The ultimate benefit : towards a state business coordination

Chaebols are business groups consisting of large companies in highly diversified business areas, owned and managed by family members or relatives. While their assets comprised over 45% of the total corporate assets in Korea, the total number of chaebols affiliates have persistently increased. Hyundai, Samsung, LG and Daewoo are some of the biggest chaebols in Korea, representing 80% of GDP and more than 60% of exports. Relationships between chaebols and the government had evolved between the 1960s and 1997. While it presented prosperous relationship between 60s and 80s, the power conflict had quickly risen until the financial crisis in 1997. This paper presents the benefits and problems that generated from these relationships in South-Korea over this period. The plan is chronologically divided in three parts. The first part shows how the government was helped with the developing chaebols expansion, thus showing harmony in their relationships. However, the second part shows that liberalization and democratization had risen conflict between both actors. Finally, the third part shows a shifted power between government and chaebols over the 1990s.

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