Retrospect and Prospect of the Post-Crisis Korean Automobile Industry: the Crisis and Its Strategic Implications for Globalization
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The economic crisis in 1997 decisively struck the existing structure of the Korean automobile industry and the industry experienced painful transformation. This paper identifies that endogenous and exogenous conditions relating to the crisis and subsequent results have effects on the development of the industry with particular reference to the strategic alternatives for globalization. This particular case leads to a rather contrary perspective that problems and structural transition could bring positive imperative in terms of new market development and enhanced organizational capabilities. This paper argues that the overseas activities and the globalization process have been affected in various aspects as the crisis confined financial capability and independence. Despite the fact that the strategic preferences have mainly focused on merging local firms and the establishment of production plants, technical alliance are suggested as appropriate strategic alternative within the changing context of global automobile industry.
Abstract
The economic crisis in 1997 decisively struck the existing structure of the Korean automobile industry and the industry experienced painful transformation. This paper identifies that endogenous and exogenous conditions relating to the crisis and subsequent results have effects on the development of the industry with particular reference to the strategic alternatives for globalization. This particular case leads to a rather contrary perspective that problems and structural transition could bring positive imperative in terms of new market development and enhanced organizational capabilities. This paper argues that the overseas activities and the globalization process have been affected in various aspects as the crisis confined financial capability and independence. Despite the fact that the strategic preferences have mainly focused on merging local firms and the establishment of production plants, technical alliance are suggested as appropriate strategic alternative within the changing context of global automobile industry.
참고문헌 (20)
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