Similarly, the estimated coefficient on the share of government ownership of the firm is negative and statistically significant at the 1 percent level for both the full sample, and the non chaebol
firm sample, providing strong support for the idea that government ownership may substitute for insurance, at least in Korea.
3) The agent is a chaebol
of an unknown type, which seeks for external financing of a set of risky projects.
South Korea's biggest and most successful chaebol
is now renowned globally for its stylish mobile phones and flat-screen televisions.
The site, formerly known as LG Electronics, formed part of what was once billed as Europe's biggest inward investment project from Korean chaebol
According to Amsden, the South Korean government extended trade protection and subsidies to the nation's large diversified business groups, or chaebol
, encouraging them to penetrate the low end of foreign markets, but disciplining the groups for any perceived mismanagement.
Roh will also challenge the chaebol
, the Korean conglomerates that have dominated Korean economic life and dictated much of its politics as well.
At the same time, the government also managed to favor the chaebol
, groups of diversified companies owned by a handful of families.
After four days of wrestling with issues from global affairs to new technology, from creativity to cross-cultural strategies, the symposium participants were tasked with trying to solve a real-world case-study problem, the repositioning of the Korean chaebol
has become the most powerful group of domestic capitalists in South Korea.
Roubini was the clearest exponent of the structural weakness view, highlighting twelve vulnerabilities -- ranging from the bankruptcy of a number of the chaebol
to significant political uncertainty -- already apparent in early 1997.
Although the chaebol
and government have been playing out a charade to the effect that the permissions and exemptions LG needs to become a telecoms major were not part of the package, it seems evident they were.
The shaky credit of the chaebol
means it would be hard for Korean competitors to finance and build the necessary dealer and service infrastructure to compete on anything like equal terms with Caterpillar and Komatsu.