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In 1962, South Korea assembled just 1,100 new automobiles. By 1996, this total had soared to 2,812,714. What explains this remarkable growth? The answer is complex, and involves a combination of a supportive State, timely technology alliances, a skilled but historically low-paid workforce, aggressive pricing, savvy entrepreneurs, and fortuitous circumstances. Despite this amazing ascent, comparatively little has been written about the Korean auto industry in English. In the first of a two-volume set, this 11-chapter book seeks to help fill this void by providing in-depth examinations of all six of Korea’s automakers from their beginnings through 1996. Uniquely written from the perspective of industry analysts at the time (without knowledge of the Asian Fiscal Crisis), the book should prove informative to practitioners, scholars, and students interested in automotive history, international political economy, Asian studies, and more.
Analysing developments in digital technologies and institutional changes, this book provides an overview of the current frenetic state of transformation within the global automobile industry. An ongoing transition brought about by the relocation of marketing, design and production centres to emerging economies, and experimentation with new mobility systems such as electrical, autonomous vehicles, this process poses the question as to how original equipment manufacturers (OEMs) and newcomers can remain competitive and ensure sustainability. With contributions from specialists in the automobile sector, this collection examines the shifts in power and geographical location occurring in the industry, and outlines the key role that public policy has in generating innovation in entrepreneurial states. Offering useful insights into the challenges facing emerging economies in their attempts to grow within the automobile industry, this book will provide valuable reading for those researching internationalization and emerging markets, business strategy and more specifically, the automotive industry.
This book examines Foreign Direct Investment of major Korean automotive companies in Europe, with particular reference to how economic integration has affected the motivations and patterns of FDI and industrial location. The book is a valuable source of information on FDI, the automobile industry in Europe and South Korea and business decision-making process in general.
This is the first book-length work in English dealing with the crucial and troubled relationship between Korea and the United States. Leading scholars in the field examine the various historical, political, cultural, and psychological aspects of Korean-American relations in the context of American global and East Asian relationships, especially with Japan.
In 1961 South Korea was mired in poverty. By 1979 it had a powerful industrial economy and a vibrant civil society in the making, which would lead to a democratic breakthrough eight years later. The transformation took place during the years of Park Chung Hee's presidency. Park seized power in a coup in 1961 and ruled as a virtual dictator until his assassination in October 1979. He is credited with modernizing South Korea, but at a huge political and social cost. South Korea's political landscape under Park defies easy categorization. The state was predatory yet technocratic, reform-minded yet quick to crack down on dissidents in the name of political order. The nation was balanced uneasily between opposition forces calling for democratic reforms and the Park government's obsession with economic growth. The chaebol (a powerful conglomerate of multinationals based in South Korea) received massive government support to pioneer new growth industries, even as a nationwide campaign of economic shock therapy-interest hikes, devaluation, and wage cuts-met strong public resistance and caused considerable hardship. This landmark volume examines South Korea's era of development as a study in the complex politics of modernization. Drawing on an extraordinary range of sources in both English and Korean, these essays recover and contextualize many of the ambiguities in South Korea's trajectory from poverty to a sustainable high rate of economic growth.
The economic success of East Asia is often attributed to the relationship between state and business. In The State and Industry in South Korea , Jong-Chan Rhee presents a more balanced view of Korea's `industrial miracle'. The book examines the limits of a strong authoritarian state as a vehicle for intervening in the market or for sponsoring liberal reform. In so doing the author focuses on how state-controlled industrial adjustment in Korea has succeeded and failed.
Based upon extensive fieldwork in India and Korea, this book is a detailed account of the globalization of the Korean automobile industry and Hyundai Motor Company, one of the most prominent of the new Korean multinational corporations.
Industrial competition with rising economies, new regional investment from the West, and trade pacts among competitors threaten Japan’s long postwar prominence. Global market dynamics and regional competition prompted the shift from offshore factories to local networks in the last decade. Similar forces are driving the recent formation of regional Nikkei - Japan-affiliated - nodes in major industrial clusters in Asia. The central concept of this volume, "knowledge networks," refers to interactive linkages around nodes of tacit and codified knowledge embedded in Global Value Chains. Through survey evidence and interviews at firms and factories this book reveals the problems facing knowledge transfer, such as persisting difficulties in communication, technology transfer, and indigenous learning in regional nodes of Nikkei Value Chains and the persistence of earlier patterns of hierarchical coordination in information flows despite the shift towards more horizontal network organization. However, a comparison of Nikkei knowledge networks in China, South Korea, and Thailand reveals the possibilities of an interactive learning community in cross-border investment. If Japan can meet the challenge of tapping Asia’s offshore resources for innovation, it will pose a formidable global challenge to Western competitors.