Lee, You-Il
(2004)
Mncs' Perception On The Feasibility Of South
Korea As A Business Hub Of Northeast Asia.
Asian Academy of Management Journal (AAMJ), 9 (2).
pp. 1-16.
ISSN 1394-2603
Abstract
Since the financial crisis of 1997, the South Korean government has moved towards a
new market-driven paradigm of economic growth based on foreign direct investment
(FDI) replacing the decades old state-driven economic growth model. One of the
attempts made by the government is its ambition to transform the nation into a business
and economic hub of Northeast Asia. However, despite the growing concern on the topic
among government agencies, media, research centers and academia, the absence of a
cohesive and realistic approach to the issue is a relative void in the literature. This
paper, which is based on findings from interviews with foreign companies operating in
Korea during 2002, offers a cultural and institutional insight into the critical and often
invisible issues to be considered for a successful realization of the vision.
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