The Origins of Korean Chaebols and their Roots in the Korean War

Rhyu Sang-young

doi:10.14731/kjis.2005.12.45.5.203

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한국국제정치학회
국제정치논총 학술저널
The Korean Journal of International Relations Vol.45 No.5
2005.12 203 - 230 (28page)
DOI : 10.14731/kjis.2005.12.45.5.203

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Rhyu Sang-young

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The driving thesis behind this study is to place the formation of Korean Chaebols squarely in the 1950s, corresponding directly with the outbreak and conduct of the Korean War. The Korean War provided enough new market demand for the emersion of Korea's Chaebols. During and after the War, disposal of ex-Japanese enterprises, relief funds, government reserved dollar allocations and bank finance loans provided the grounds for the formation of Chaebols. This study emphasizes the need to couple the Cbeebols' rent seeking behaviors with their divergent strategies and abilities to utilize and maximize productivity. It substantiates, from case studies, that contrary to conventional wisdom, political factors are neither the sole nor majority cause for the growth of these Chaebols; rather, their growth owes largely to government's economic policies and their economic strategy and market adaptability. In short, the emergence of Korean Chaebols originates in the 1950s in the War's aftermath. And the developmental trajectory of Chaebols is characterized by an economic factor- pulled continuity rather than a political factor-pushed discontinuity.

#Korean Chaebols #Korean War #Syngman Rhee #US Aid Policy toward Korea #Continuity Thesis #Kyungbang Ltd

ABSTRACT
Ⅰ. Introduction: The Origins of Korean Chaebols in a Historical Perspective
Ⅱ. New Deman and Business Practice during the Korean War
Ⅲ. Economic Events and the Formation of Chaebols after the Korean War
Ⅳ. National Economic Policy and Chaebols‘ Rent Seeking
Ⅴ. The Rise and Fall of Chaebols in the 1950s: Factors and Patterns
Ⅵ. Conclusion: Continuity and Discontinuity of Korean Chaebols
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