Opening up the state coffers: South Korean industry. (sale of state-owned businesses is moving slowly)
Economist (US), The, November, 1996
South Korea announced in Dec 1993 that it would privatize about 60 state-owned businesses by 1998 in an effort to raise more than $8.7 billion. Pres Kim Young Sam limited the scope of the sale once the economy began faltering and the difficulties of selling the large companies was realized.
SEOUL
ALREADY, South Korea's president, Kim Young Sam, has backed away from taming the country's big private-sector conglomerates, the chaebol. He now looks likely to go soft on the country's state-owned enterprises (SOEs) too. In October, his ruling New Korea Party blocked an attempt by the country's Fair Trade Commission to make the chaebol's business transactions more transparent by, for example, giving individual shareholders better access to their books and forcing the...
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