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The political economics of industrial development in the Korean automotive sector

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  • Byoung-Hoon Lee

Abstract

This case study examines how the Korean auto sector has advanced via a series of industrial restructurings, focusing on employment relations and governmental policy from the perspective of a national political economy. The successful case of the Korean auto industry highlights the significance of the government's strategic approach to nurturing the auto sector and facilitating industrial restructuring. Industrial restructuring is crucial for optimising market competition and advancing firm-level competitiveness, as illustrated by two waves of industrial restructuring – the first, state-led in the early 1980s and the second market-driven as a result of the economic crisis of 1997–1998 – which act as selective processes that weed out unfit players while strengthening the survivors of industry-level competition. From a political economy perspective the persistent influence of the state in the developmental and restructuring processes forges a 'tightly-coupled' relationship between government and automakers that is unseen in the advanced economies.

Suggested Citation

  • Byoung-Hoon Lee, 2011. "The political economics of industrial development in the Korean automotive sector," International Journal of Automotive Technology and Management, Inderscience Enterprises Ltd, vol. 11(2), pages 137-151.
    • Handle: RePEc:ids:ijatma:v:11:y:2011:i:2:p:137-151
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    Cited by:

    1. Aleksandr M. Batkovskiy & Natalya S. Efimova & Vyacheslav D. Kalachanov & Elena G. Semenova & Alena V. Fomina & Victor M. Balashov, 2018. "Evaluation of the efficiency of industrial management in high-technology industries," Post-Print hal-02342894, HAL.
    2. Keun Lee & Di Qu & Zhuqing Mao, 2021. "Global Value Chains, Industrial Policy, and Industrial Upgrading: Automotive Sectors in Malaysia, Thailand, and China in Comparison with Korea," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 33(2), pages 275-303, April.
    3. Aleksandr M. Batkovskiy & Natalya S. Efimova & Vyacheslav D. Kalachanov & Elena G. Semenova & Alena V. Fomina & Viktor M. Balashov, 2018. "Evaluation of the efficiency of industrial management in high-technology industries," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 6(2), pages 577-590, December.

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