Yes, general
Article Abstract:
Japanese industrial conglomerates, or zaibatsu, were to be broken up on the order of the occupying Allied forces in 1945. Japan had sought to modernize using big companies run by samurai, who benefited from monopolies and state assets. There were four dominant houses, Sumitomo, Yasuda, Mitsubishi, and Mitsui. The US policy toward Japan changed with the advent of the cold war, and there was less pressure to break up the conglomerates. The keiretsu, with cross-shareholdings encouraging group solidarity, then developed, and appeared to function well to the 1990s.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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The apologist
Article Abstract:
South Korea's Federation of Korean Industries' director, Bae Ie-Dong, is seeking to defend the country's conglomerates. He argues that the financial sector created the problems of the South Korean economy, rather than the manufacturing sector. Conglomerates have boosted South Korea's exports and employment levels. Corporate borrowing took place in the context of an underdeveloped stock market. His argument that South Korean accounting rules make the debt problem appear worse than it is does not stand up to scrutiny.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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More pain, please
Article Abstract:
The South Korean economy is undergoing a recovery, and there is a danger that complacency will prevent necessary reforms. The conglomerates or chaebol have not cut their debt as promised, but increased their debts in 1998 compared to the previous year. Some planned sales of businesses by chaebol have been delayed. Meanwhile, the president of South Korea, Kim Dae Jung, has sought to encourage mergers, and has warned the chaebol that lack of progress with restructuring could lead to a return of an economic crisis.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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