Managers' Forum ~ Book Reviews

Korean Politics
Reviewed by: Prabhu F. Thomas

This book traces the history of Korean development through the 1900's till
date. It relates the political, economic and labor developments, and tries to
show how each of these are related to the way business is done in Korea.

The historical factors discussed are important as it explains why the South
Korean economic miracle happened and the causes for it. It also tries to find
an answer to the economic crisis of 1997, and the factors that brought South
Korea out of it.

The book also addresses the issue of corruption and its roots in Korean
business. It helps the reader to understand the role of corruption in the
development of business in Korea. While corruption is a taboo, it is
nevertheless a form of necessary evil, that has to be dealt with when doing
business in South Korea.

The author also shows how politics and the economy are interrelated. While it
is easy to dilineate politics and the economy in the US, it is not so in most
developing economies especially in Asia. South Korea is a case in point where
there have been tumultous changes in the political scene, that directly affect
industry. The trial of former presidents Roh and Chun and the impact of their
disclosures of personal wealth or "slush funds", shocased how big business
colluded with politicians to grow and become the behemoths they are today.
This is also the reason they are in a major financial mess today, as they
relied on politicians and corruption to  grow, rather than sound business
principles.

This book is a good read to understand how to approach doing business in South
Korea. It helps to understand the relationship between politics, trade &
industry, and the success of a business venture in South Korea. It also helps
the reader to come to terms with the reality of corruption in doing business
with South Korea.

Oh, John Kie-Chiang, 1930-
    Korean Politics : The Quest for democratization and economic

development /  John Kie-Chiang Oh
ISBN 0-8014-3447-5 (cloth : alk. paper)
ISBN 0-8014-8458-8 (pbk. : alk. paper

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