The South Korean Chaebol System Essay Example | Topics and Well Written Essays - 2000 words

The South Korean Chaebol System - Essay Example The chaebol is the leading type of business group in South Korea. It can be defined as a business group which is owned and controlled by a person and that person’s family – a definition that coincides for the most part with Morikawa’s definition of zaibatsu, which is that the business group exclusively owned and controlled by the family’, and probably also fits the rest of the definition, ‘diversified industrial firms’, since it is a business group. (Shiba and Shimotani, p. 31) The chaebol concept encouraged the formation of conglomerates under a single holding company, usually controlled by a family. It was fashioned after the Japanese keiretsu. However, unlike the latter, chaebol’s do not have their own financial institutions and that they require the government’s approval of financial backing since South Korea’s banks are nationalized. (Dubois, p. 42) From the late 1950s, it has emerged due to favorable import license concessions, access to scarce foreign exchange and governmental properties seized from the Japanese formed part of the Korean state policy. Samsung, Korea’s oldest chaebol, and the four other biggest conglomerates were established during this period. It was in the 1960s when the chaebols forged its strong partnership with the government. The Korean government identified talented entrepreneurs and systematically sponsored them by credit, trading licenses, tax advantages, and other measures. (Richter, p. 73)Â   The nature of this alliance between the state and the chaebols is fundamental in the Korean impressive economic performance seen from thereon. The government support, encouragement, and intervention resulted to what was called as the guided economic development wherein the government involvement enabled chaebols to monopolize spheres of activity and accumulate capital in order to finance diversification of production. According to Kong, democratization and economic liberalization policies did not break the interdependence of state and chaebols and that it even had the effect of strengthening the chaebols and generating new forms of collusion.

I have five different papers that I need to have written. Disciplines Essay

I have five different papers that I need to have written. Disciplines should be in Mathematical methods in introductory algebra,geometry,business math word problems,and business statistics - Essay Example That is, the next 10 feet will cost $125; the next 10 feet will cost $150, etc. How much will it cost to build a 90-foot tower? The labor cost for construction of the tower is $100 for the first 10 feet. After that, each new invoice is $25 more than the previous one. Hence the invoice numbers look like this: 100, 125, 150, 175 and so on. There is a constant difference of 25 between two successive terms which tells us this is an arithmetic sequence. In other words, each year the existing balance is multiplied by 1.05. Hence 1.05 is the common ratio and every term of the sequence is found by multiplying the previous term with this common ratio. This means we have a geometric sequence at hand. We have learnt that the increments by a constant number give arithmetic sequence. This is the reason why we chose arithmetic sequence to solve Exercise 35 as the labor cost was increasing by a constant number 25 in that case. Similarly a constant ratio between successive terms gives geometric sequence. Exercise 37 had a constant ratio of 1.05 between successive balances each year in the savings account. Hence we used the geometric sequence formula to calculate our final balance. We can use arithmetic sequences to calculate the average performance of a data set of like say the average marks of a class as the data is distributed evenly around the median. Geometric sequences can be used to capture the growth of the data set like the growth in the returns of a mutual fund, equity,