Purpose – The purpose of this paper is to identify both the problems and their solutions in the corporate governance systems of Korean business groups (chaebols) in the wake of the Asian financial crisis. Design/methodology/approach – This is a conceptual paper and includes suggestions for improving international governance systems. Findings – In this paper, the author focuses on how chaebols should be restructured to improve the Korean economy. In order to figure out how they should be restructured, the author explains the positives and negatives of their current structure and how these can be modified/eliminated to make stronger corporate governance. Originality/value – The paper provides conceptual insights into systems and laws, which can be used to improve the corporate governance of business groups.
Corporate Governance – Emerald Publishing
Published: Feb 15, 2013
Keywords: Corporate governance; Korea; Conglomerates; Business structures; Business groups; Chaebols