The changing contours of Korean management and business
In this introduction, on the changing contours of Korean management and business, we look at recent research on this important Asian economic player and set it in its background and context. As one of the original ‘Little Dragon’ or ‘Little Tiger’ economies, which expanded at spectacular rates of growth post-1960s, the Republic of Korea, more widely known as South Korea (‘Korea’ from now on here), has expanded and prospered (see Rowley 2013). However, there has been less academic interest in its development than in its Japanese and more recently in its Chinese equivalent (see Warner 2013). Korea has made great progress in recent decades. It has, for instance, moved from military authoritarianism to democracy in the late 1980s and weathered the 1997 Asian Financial Crisis as well as 2008 Global Financial Crisis (see Rowley and Bae 1998; Rowley, Sohn, and Bae 2002; Rowley and Jun 2013; Warner 2013). It now has several major world-class multinational companies (MNCs), known generically as chaebols. Today, such diversified conglomerates as Hyundai, LG, Samsung and others are internationally known. In turn, Korea has developed a distinctive style of management (see Chen 2004), which derives from a shared Asian heritage (see Warner 2003; Woodside 2006) but remains nonetheless sui generis (Rowley 2013). It has also developed its own human resource management (HRM) policies and practices (Zhu, Rowley, and Warner 2007; Rowley and Bae 2013a).
Asia Pacific Business Review
Business and Management not elsewhere classified