Reforming the large business groups to promote productivity and inclusion in Korea:
Large business groups, which played a key role in Korea's economic development, are still dominant today, especially in exporting. The concentration of economic power creates a number of problems and risks. Ensuring a level-playing field between the business groups, also called chaebols, and SM...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2018
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Large business groups, which played a key role in Korea's economic development, are still dominant today, especially in exporting. The concentration of economic power creates a number of problems and risks. Ensuring a level-playing field between the business groups, also called chaebols, and SMEs and start-ups is essential to promote innovation and inclusive growth. While the business groups have long been subject to a number of special regulations, a comprehensive strategy is needed. The top priority is to improve corporate governance by strengthening the role of outside directors and protecting minority shareholders. A greater say for institutional investors and more active use of private remedies, such as class action suits, would also be beneficial. In addition, strengthening competition by reducing barriers to trade and FDI and activating a market for corporate control would lead to better performance by the groups. The ownership structure of the groups needs to be improved, notably by phasing out circular shareholding among their affiliates. This Working Paper relates to the 2018 OECD Economic Survey of Korea (www.oecd.org/eco/surveys/economic-survey-korea.htm) |
| Beschreibung: | 1 Online-Ressource (43 Seiten) |
| DOI: | 10.1787/9e9052b5-en |
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| spelling | Jones, Randall S... Verfasser aut Reforming the large business groups to promote productivity and inclusion in Korea Randall S. Jones Paris OECD Publishing 2018 1 Online-Ressource (43 Seiten) txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers Large business groups, which played a key role in Korea's economic development, are still dominant today, especially in exporting. The concentration of economic power creates a number of problems and risks. Ensuring a level-playing field between the business groups, also called chaebols, and SMEs and start-ups is essential to promote innovation and inclusive growth. While the business groups have long been subject to a number of special regulations, a comprehensive strategy is needed. The top priority is to improve corporate governance by strengthening the role of outside directors and protecting minority shareholders. A greater say for institutional investors and more active use of private remedies, such as class action suits, would also be beneficial. In addition, strengthening competition by reducing barriers to trade and FDI and activating a market for corporate control would lead to better performance by the groups. The ownership structure of the groups needs to be improved, notably by phasing out circular shareholding among their affiliates. This Working Paper relates to the 2018 OECD Economic Survey of Korea (www.oecd.org/eco/surveys/economic-survey-korea.htm) Economics Korea, Republic of https://doi.org/10.1787/9e9052b5-en Verlag kostenfrei Volltext |
| spellingShingle | Jones, Randall S.. Reforming the large business groups to promote productivity and inclusion in Korea Economics Korea, Republic of |
| title | Reforming the large business groups to promote productivity and inclusion in Korea |
| title_auth | Reforming the large business groups to promote productivity and inclusion in Korea |
| title_exact_search | Reforming the large business groups to promote productivity and inclusion in Korea |
| title_exact_search_txtP | Reforming the large business groups to promote productivity and inclusion in Korea |
| title_full | Reforming the large business groups to promote productivity and inclusion in Korea Randall S. Jones |
| title_fullStr | Reforming the large business groups to promote productivity and inclusion in Korea Randall S. Jones |
| title_full_unstemmed | Reforming the large business groups to promote productivity and inclusion in Korea Randall S. Jones |
| title_short | Reforming the large business groups to promote productivity and inclusion in Korea |
| title_sort | reforming the large business groups to promote productivity and inclusion in korea |
| topic | Economics Korea, Republic of |
| topic_facet | Economics Korea, Republic of |
| url | https://doi.org/10.1787/9e9052b5-en |
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