In 1996, Korean and US officials, academics, and businessmen met in a frank, closed-door discussion of recent political, economic, and cultural developments affecting their two nations. These discussions came at a critical juncture in Korean-US relations as shifting international conditions have...

This study examines the factors that have contributed to the "Korean Miracle": an active role by government in managing the economy; an outward-oriented trade policy; market and nonmarket factors, including culture, rapid physical and human capital accumulation rates; and macroeconomic and...

Before the 1997 crisis, Korean firms destroyed shareholder value and chronically produced nonperforming loans for financial institutions. In particular, chaebol‐affiliated and unionized firms did so, with lower profitability among the financially unsound firms. Chaebol and unions thus...