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외국기업의 정치적 위험관리 전략으로서 현지 CSR의 효과 분석: 베트남 도시개발 진출 한국기업의 비시장 전략 비교

The Effects of Local CSR as a Political Risk Management Strategyof Foreign Companies: Comparison of Non-Market Strategies ofTwo Korean Companies Invested in an Urban Development Projectin Vietnam

김용균|명재석
한국동남아학회|2021.11|동남아시아연구 (The Southeast Asian Review)|제31권 제4호|pp. 83-131|DOI 10.21652/kaseas.31.4.202111.83

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베트남Vietnamcorporate social responsibilityanti-corruption campaignreal estate development부동산 개발기업 비시장 전략사회적 책임 이행반부패캠페인corporate non-market strategy
주제분류지역학

초록

이 연구는 베트남 호치민시 수섬지구(가명) 개발사업에 투자한 두 한국 기업의 정치적 위험관리 성패를 상이한 비시장 전략(non-market strategy)으로 설명한다. 수섬지구 개발사업은 장밋빛 전망으로 다수의 내외국 투자를 유치했으나, 2018년 제12기 당 지도부 반부패 사정의 표적이 되면서 어려움을 겪었다. 그런데 수섬지구 개발에 투자한 두 한국 기업인 ‘가’와 ‘나’는 비시장 위험 관리 성패에 있어 달랐다. 기업 ‘가’는 이행기 신흥국이라는 환경조건에 부합하는 비시장 전략을 도외시하다가 사업 중단으로 손실을 보았다. 반면 기업 ‘나’는 베트남의 정치사회적 맥락에 부합하는 정치적 사회책임전략, 구체적으로는 자기자본으로 공공재를 공급하여 당국에 지렛대를 확보하는 전략을 구사함으로써, 정치적 파고를 상대적으로 쉽게 넘겼다. 비교연구에 따르면 베트남과 같은 이행기 신흥국에서 현지의 핵심 이해당사자를 중심으로 정당성을 구축하는 기업의 정치적 사회책임전략은 정치적 위험 경감에 매우 효과적이다.

Abstract

This study explains the success and failure of political risk management of two Korean companies that have invested in the development project of the Susum district (pseudonym) in Ho Chi Minh City, Vietnam with different non-market strategies. The Susum development project with its rosy prospects attracted a large number of domestic and foreign investments, but suffered from unexpected difficulties as it became the target of anti-corruption campaign in 2018 by the 12th Communist Party leadership. However, the difficulties faced by the two Korean companies were different. Company A failed to formulate a non-market strategy that would help hedging the institutional weaknesses of Vietnam, and a result, suffered a substantial loss due to the project’s disruptions by the anti-corruption campaign. By contrast, company B was able to overcome the political risks thanks to its well-crafted political-corporate social responsibility (political CSR) strategy in which it supplied local public goods with its own capital, thereby successfully securing leverage to the authorities. This study suggests that in emerging and transition countries such as Vietnam, political CSR, which aims to build legitimacy in the eyes of key local stakeholders—local authorities and the public in particular—can be a highly effective strategy in dealing with political risks.

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