GERMAN CAPITAL IN THE KOREAN ECONOMY IN THE LATE XIX - EARLY XX CENTURIES ON THE EXAMPLE OF THE ACTIVITY OF THE TRADING COMPANY "EDUARD MEYER & CO"

Abstract

The purpose of the research. The article examines the history of the trade expansion of German capital in East Asia, and, in particular, in Korea in the late XIX - early XX centuries on the example of the activities of one of the largest European trading houses «Eduard Meyer & Co». Conclusions. Until the middle of the XIX century, the German bourgeoisie wasn’t able to actively participate in colonial and semi-colonial trade expansion in non-European countries, it has begun only with the development of capitalism in the country. The liberal bourgeoisie of the German Empire sought to open non-European markets and conduct business in the spirit of free trade and competition. This process is clearly visible on the example of the activities of the largest German trading company in East Asia called «Eduard Meyer &Co». Its trade expansion in Korea began in the 1880s, when P.G. von Möllendorf held influential posts in Korean government. The company has received numerous commercial projects from the Korean government, such as the supply of equipment for a new Korean coin, the sale of weapons, the construction of telegraph lines and the maritime transportation. After the resignation of P.G. von Möllendorff, «the Eduard Meyer & Co.» had to join the struggle for concessions and economically profitable projects along with other foreign companies in Korea, and this struggle did not always end in success. In difficult conditions of the company «Eduard Meyer & Co» managed to adapt its own trading model to the Korean realities, which has worked successfully for several decades.