A Study Of Sina-Korea State-Owned Enteriprise Reform And Protecting Of Minority Shareholders

The state enterprise's progress, especially how can achieve effective structuralreform is a global political and economical problem. After 1970's, the reform of stateenterprise has been a global current, one of the special study areas in law, economics,and political science. The state enterprise has played an important role in Korea and China nationaleconomy. A Korean 5-year program for economic development had been a driving force.Besides government leading planned economy, the merits of "the miracle of Han River"was attributed to the state enterprise and the large sized civil enterprise group(conglomerate). As of the state enterprise's effectiveness is lower than conglomerate, an influence tonational economy has decreased, what was worse, it increased the burden laid onnational finance. So it has been privatized, as a way of drastic reform. In 1990's, as the rapidly expansion of the economic scale and the trend ofspecialization, the government leading economic growth policy was in great difficulties.So the Korean government cannot but recognize self-imposed control of market, hasbeen responsible to protect economic order and to furnish public service. Such smallgovernment has decreased direct interference, secured creativity and liberty of privateenterprise. The management way has also changed from public-oriented policy toefficiency (business)–oriented. The financial crisis in 1997 has great affected to Korea, some changes happened inthe field of the reform of state enterprise. That is, the government made a steady progressof privatization on the one hand, and proceeded re-nationalization of private company onthe other hand. It especially happened in financial business. The government adopted there-nationalization for the relief of national economic difficulties because bankruptcy of thebank had a bad influence on people's normal life. China has materialized the development type of socialistic market economy with 4 ABSTRACTreform and open policy since 1980's. In the early period, the state enterprise renderedgreat services to economic development. But since economic development came to someextent, it has also arisen undesirable result. The reform of the state enterprise has becomeone of the most urgent tasks. China revised the constitution in 1993 and then has used the word of "The stateenterprise ". But it looked just a change of term,and a substantial change was not enough.China has taken many measures, and found that it was impossible not only tomaintain status quo but also to adopt the way of Russian public stock. I presented, at first, what measures have been adopted by Korea and a changecourse of relevant law as well as the history and features of Korean state enterprise. Thesecond, on the basis of analysis some problems that occurred after reform the stateenterprise, explained what was merits and demerits of that reform, and then how didKorean government have resolved that problems. A comparative study can help to learn a lesson each other through an intensiveanalysis of mutual problems. But it easily pays no attention to the historical, political,economic, social, cultural differences. As a foreign student came from a capitalistic state and have stayed some years insocialistic state, I couldn't exactly recognize what does the meaning of "China" as asocialistic developing state. The comparison of legal problems between capitalistic and socialistic state is one ofthe ideal comparison, therefore, I has had difficulty how did find out common pointin two contrary concept and how did exclude diverse understanding to state enterprise. The contents of this thesis are composed of like this: Chapter 1 A change of Korean state enterprise In the course of Korean eco...