Cleaning up the act: anti-corruption moves preface a more open economy
Article Abstract:
South Korean Pres Kim Young Sam plans sweeping economic reforms designed to curb overregulation and rampant corruption. His anti-corruption policy is meant to end the kickbacks and bribery that have long prevailed among the military, the bureaucracy and industry. However, South Korea's command capitalist economy and penchant for micromanagement will make Kim's task difficult. South Korea's trade partners will probably give Kim time to carry out his reforms, which will be made public on Jun 30, 1993, before they pressure him to open up South Korea's markets to greater foreign competition.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Uncharted course: South Korea's five-year plan lacks timetable
Article Abstract:
The South Korean government of Pres Kim Young Sam on Apr 20, 1993 published a draft of a five-year economic plan whose omission of a timetable may allow powerful bureaucrats to delay or prevent genuine reform. Lessening government control of the economy is the plan's basic goal, which supposedly will be carried out through administrative, monetary and fiscal innovations. The plan is meant to be in effect by the time Kim's term ends in 1997.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
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