Abstract
This study traces the evolution of corporate governance and state regulation in the context of Korean chaebols during and after the state led industrialisation of the 1960s. A description of changes in corporate ownership and control structures in response to progressive measures towards corruption and wealth concentration by the state reveals the establishment of new corporate and political networks which facilitated the persistence and growth of surviving chaebols. This study also illustrates the trajectory of family control of chaebols consequent to strong inheritance regulation and financial liberalization.
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