The K-Type Management: A Driving Force of Korean Prosperity
Over the last two decades before 1987, Korea has achieved a truly remarkable economic growth. After the World War II, Korea was one of the world's poorest countries, heavily dependent on agriculture and financially dependent upon the U.S. foreign aid. Since 1961, however, with strong political leading, sound economic planning, and hard work on the part of Korean people, Korea has overcome its lack of natural resources and achieved a real annual growth rate of over 9% in GNP. Exports, which reached $100 million for the first time in 1964, amounted more than $21.6 billion in 1982 and are projected to reach $33 billion in 1986. In 1985, Korean exports ranked 13th in the world and 10 Korean business groups were ranked in largest conglomerate in Korea. It is clear that stable political environment and sound economic planning of the government were important ingredients of the remarkable economic growth of Korea. However, no one can deny the fact that efforts of the private business sector have been the real catalysts for Korea's economic development. The purpose of this article has been to analyze the distinguishing characteristics of Korean management style (K-type management) and its role in Korean progress.
||The K-Type Management: A Driving Force of Korean Prosperity
Management International Review (Jan, 1987)
Vol. 27, No. 4
||Lee, Sang M; Yoo, S.J.