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Chaebols
A chaebol (, ; ) is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group whose power over the group often exceeds legal authority. Several dozen large South Korean family-controlled corporate groups fall under this definition. The term first appeared in English text in 1972. Chaebols have also played a significant role in South Korean politics. In 1988, a member of a chaebol family, Chung Mong-joon, president of Hyundai Heavy Industries, successfully ran for the National Assembly of South Korea. Other business leaders were also chosen to be members of the National Assembly through proportional representation. Hyundai has made efforts in the thawing of North Korean relations, despite some controversy. Many South Korean family-run chaebols have been criticized for low dividend payouts and other governance practices that favor controlling sharehol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kim Young-sam
Kim Young-sam (; or ; 20 December 1927 – 22 November 2015) was a Demographics of South Korea, South Korean politician and activist who served as the seventh president of South Korea from 1993 to 1998. From 1961, he spent almost 30 years as one of the leaders of the South Korean opposition, and one of the most powerful rivals to the authoritarian regimes of Park Chung-hee and Chun Doo-hwan. Elected as president in 1992, Kim became the first civilian to hold the office in over 30 years. He was inaugurated on 25 February 1993, and served a single five-year term, presiding over a massive anti-corruption campaign, the arrest of his two predecessors, and an internationalization policy called ''Segyehwa''. At the final years of his presidency, Kim had been widely blamed for the collapse of the Seongsu Bridge and the Sampoong Department Store and the downturn and recession of the South Korean economy during the 1997 Asian financial crisis, which forced South Korea to accept te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oxford Dictionaries (website)
Lexico was a dictionary website that provided a collection of English and Spanish dictionaries produced by Oxford University Press (OUP), the publishing house of the University of Oxford. While the dictionary content on Lexico came from OUP, this website was operated by Dictionary.com, whose eponymous website hosts dictionaries by other publishers such as Random House. The website was closed and redirected to Dictionary.com on 26 August 2022. Before the Lexico site was launched, the '' Oxford Dictionary of English'' and ''New Oxford American Dictionary'' were hosted by OUP's own website Oxford Dictionaries Online (ODO), later known as Oxford Living Dictionaries. The dictionaries' definitions have also appeared in Google definition search and the Dictionary application on macOS, among others, licensed through the Oxford Dictionaries API. History In the 2000s, OUP allowed access to content of the ''Compact Oxford English Dictionary of Current English'' on a website called AskOxf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seoul Square
Seoul Plaza is a central plaza located in front of Seoul City Hall at Taepyeongno, Jung-gu in Seoul, South Korea. It was reopened on 1 May 2004, by Seoul Metropolitan Government, with the purpose of providing the public an open space. It is part of the City's plans for environmentally friendly renovation projects such as the Cheonggye Stream and Gwanghwamun Plaza. Description The site was originally a traffic square with a 40-year-old fountain that was demolished and the nearby space was renovated. Seoul Plaza is elliptical in shape, covering 3,995 pyeong (13,207 m2) in total and 1,904 pyeong (6,294 m2) for grass area. An underground water tank was installed along with 48 lighting around the grass square. The underground tank stores rain water for use in the sprinklers on the lawn. The plaza has been the site of protests against US beef imports in South Korea, and Korea Queer Culture Festival. The plaza was also the Starting Line of ''The Amazing Race Australia 4''. Administrat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Newly Industrialised Countries
The category of newly industrialized country (NIC), newly industrialized economy (NIE) or middle income country is a socioeconomic classification applied to several countries around the world by political scientists and economists. They represent a subset of developing countries whose economic growth is much higher than other developing countries; and where the social consequences of industrialization, such as urbanization, are reorganizing society. Definition NICs are countries whose economies have not yet reached a developed country's status but have, in a macroeconomic sense, outpaced their developing counterparts. Such countries are still considered developing nations and only differ from other developing nations in the rate at which an NIC's growth is much higher over a shorter allotted time period compared to other developing nations. Another characterization of NICs is that of countries undergoing rapid economic growth (usually export-oriented). Incipient or ongoing indust ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopoly
A monopoly (from Greek language, Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or company, enterprise is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a Market (economics), market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market. Monopolies are thus characterized by a lack of economic Competition (economics), competition to produce the good (economics), good or Service (economics), service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb ''monopolise'' or ''monopolize'' refers to the ''process'' by which a company gains the ability to raise ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Syngman Rhee
Syngman Rhee (, ; 26 March 1875 – 19 July 1965) was a South Korean politician who served as the first president of South Korea from 1948 to 1960. Rhee was also the first and last president of the Provisional Government of the Republic of Korea from 1919 to his impeachment in 1925 and from 1947 to 1948. As President of South Korea, First Republic of Korea, Rhee's government was characterised by authoritarianism, limited economic development, and in the late 1950s growing political instability and public opposition. Authoritarianism continued in South Korea after Rhee's resignation until June Democratic Struggle, 1988, except for a few Second Republic of Korea, short breaks. Born in Hwanghae Province, Joseon, Rhee attended an American Methodist school, where he converted to Christianity. He became involved in Anti-Japanese sentiment in Korea, anti-Japanese activities after the 1894–95 First Sino-Japanese War and was imprisoned in 1899. Released in 1904, he moved to the Unite ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Four Asian Tigers
The Four Asian Tigers (also known as the Four Asian Dragons or Four Little Dragons in Chinese and Korean) are the developed East Asian economies of Hong Kong, Singapore, South Korea, and Taiwan. Between the early 1960s and 1990s, they underwent rapid industrialization and maintained exceptionally high growth rates of more than 7 percent a year. By the early 21st century, these economies had developed into high-income economies, specializing in areas of competitive advantage. Hong Kong and Singapore have become leading international financial centres, whereas South Korea and Taiwan are leaders in manufacturing electronic components and devices. Large institutions have pushed to have them serve as role models for many developing countries, especially the Tiger Cub Economies of southeast Asia. In 1993, a World Bank report ''The East Asian Miracle'' credited neoliberal policies with the economic boom, including the maintenance of export-oriented policies, low taxes and minimal wel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Export
An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an ''exporter''; the foreign buyer is an '' importer''. Services that figure in international trade include financial, accounting and other professional services, tourism, education as well as intellectual property rights. Exportation of goods often requires the involvement of customs authorities. Firms Many manufacturing firms begin their global expansion as exporters and only later switch to another mode for serving a foreign market. Barriers There are four main types of export barriers: motivational, informational, operational/resource-based, and knowledge. Trade barriers are laws, regulations, policy, or practices that protect domestically made products from foreign competition. While restrictive business practices sometimes hav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industrial Policy
An industrial policy (IP) or industrial strategy of a country is its official strategic effort to encourage the development and growth of all or part of the economy, often focused on all or part of the manufacturing sector. The government takes measures "aimed at improving the competitiveness and capabilities of domestic firms and promoting structural transformation." A country's infrastructure (including transportation, telecommunications and energy industry) is a major enabler of the wider economy and so often has a key role in IP. Industrial policies are interventionist measures typical of mixed economy countries. Many types of industrial policies contain common elements with other types of interventionist practices such as trade policy. Industrial policy is usually seen as separate from broader macroeconomic policies, such as tightening credit and taxing capital gains. Traditional examples of industrial policy include subsidizing export industries and import-substitution- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Five-Year Plans Of South Korea
The Five-Year Economic and Social Development Plans () were an economic development project of South Korea. Background Both North and South Korea had survived the Korean War (1950–53). From the end of World War II, South Korea remained largely dependent on U.S. aid until a military coup occurred in 1961. American economic aid failed in its goal of creating an industrial base in South Korea largely thanks to corruption. While the South Koreans did not starve and were able to keep up with national defense, most of the aid was misappropriated for private use. This created a small class of wealthy Koreans at the expense of the majority of the country, generating resentment. Despite this widespread corruption however, the Syngman Rhee administration had managed to use some U.S. aid to develop the country's education system, transportation infrastructure, and communications infrastructure. This investment resulted in the South Korean population being well educated by the time the Park ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industrialisation
Industrialisation ( alternatively spelled industrialization) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive re-organisation of an economy for the purpose of manufacturing. Historically industrialization is associated with increase of polluting industries heavily dependent on fossil fuels. With the increasing focus on sustainable development and green industrial policy practices, industrialization increasingly includes technological leapfrogging, with direct investment in more advanced, cleaner technologies. The reorganization of the economy has many unintended consequences both economically and socially. As industrial workers' incomes rise, markets for consumer goods and services of all kinds tend to expand and provide a further stimulus to industrial investment and economic growth. Moreover, family structures tend to shift as extended families tend to no longer live ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
