Competitiveness and Corporate Governance of Korean Companies
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- Category: Corporate
Business Roundtable
Up until 1997, Korea’s economic miracle was kept on track by a cozy relationship between big business and government; a relationship that brushed aside notions of good corporate governance. The IMF crisis and its aftermath revealed the dire need for transparency and regulation. Since then, major changes have been made in Korea’s corporate culture and Hasung Jang has been at the forefront of them. He will address his work at the Korean Corporate Governance Fund, recent changes in Korean corporate governance and competitiveness pressures in the Korean economy.
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The Changing Role of Korea In the Global Community
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- Category: Corporate
Oh Jong Nam, who just finished his term as executive director of the International Monetary Fund (IMF), says Korea is much better positioned in the global economy than when he began his tenure at the IMF. Strong exports and a dynamic tech sector have propelled South Korea into a four-way tie with India, Mexico and Russia as the world's tenth largest economy. Its new prominence has been recognized by the IMF, which recently reapportioned member-country voting rights to give Korea greater influence. Now, according to Oh, is the time for Korea to recognize its status and begin acting like a responsible global leader.
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Economic Challenges Facing South Korea in 2006
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- Category: Corporate
South Korea wears its post-war economic miracle on its sleeve, but often that past success can distract investors from the real economic obstacles in the country’s near future. Jeffrey Shafer, head of economic and political strategies at Citigroup; Hyun Jun Taik, president of the Korea Development Institute (KDI); Michael Petit, managing director of Asia Pacific and corporate ratings at Standard and Poor’s; and Chester C. Dawson III, author and global finance editor, all presented at a panel discussion on what those obstacles would be and how Korea could overcome them.
Political Risk: The Koreas and Asia
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- Category: Corporate
East Asia has many simmering geopolitical conflicts that could bubble over. At least in the short term, according to Ian Bremmer, president of global risk consulting firm Eurasia Group, however he doesn’t think that North Korea’s nuclear program is one of them.
Korean Multinationals and Northeast Asia
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- Category: Corporate
Conventional wisdom is that South Korea’s most important trading partner is the United States. Ku-Hyun Jung, president and CEO of the Samsung Economic Research Institute in Seoul, disagrees. He argues that Northeast Asia has become Korea’s most important export and investment market, and that as the region’s economy continues to grow, so will its importance to South Korea.
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