The Korean Economy examines how Korea's inward FDI-led globalization, particularly since the financial crisis of 1997, has been experienced, understood, managed and often strongly resisted in various economic, social and cultural domains. It is an in-depth analysis combining perspectives from politics and economics, examining a number of grievances as seen through the eyes of actual foreign investors operating in Korea. The authors argue that it is precisely these obstacles that need to be addressed if Korea is to live up to its full potential in terms of becoming a truly attractive magnet for FDI and comprehensively integrating into the global economy. The authors make a convincing case that the challenges Korea currently faces are by no means limited to institutional and policy reforms, but rather are entrenched in an anti-globalization mindset shared by all sectors of society.
This critical examination of the Korean government's inward FDI policies includes the experiences of around 50 CEOs of operating MNCs in Korea including various chambers of commerce and law firms. It also examines both perceptions and realities of the Korean market from in-depth interviews with over 50 foreign CEOs of MNCs operating in Korea, as well as a critical examination of Korea's current efforts to become a Northeast Asian business centre.
This book will appeal to academics and postgraduate students of Asian studies and international business, the foreign business community (including existing and potential foreign investors to the Korean market) as well as government and policy makers.
Wan-Soon Kim, Korea University Business School and formerly of the Institute for Global Economics, Seoul, Korea and You-il Lee, International Graduate School of Business, University of South Australia, Adelaide, Australia
Contents: 1. Introduction 2. Foreign Direct Investment in Korea: Theoretical Considerations 3. The End of Korean Capitalism? 4. Korea's Liberalization and Globalization 5. The Paradox of Korea's Globalization 6. Conclusion Bibliography Index