EMERGENCE OF THE REGULATORY STATE IN KOREA AND THE GOVERNMENT-INDUSTRY RELATIONSHIP

Since implementing open economic and stabilization policies in the 1980's, Korea has changed from a developmental state into a regulatory with slightly different characteristics from the regulatory states in North America and Europe that replaced their welfare states. The regulatory state in Korea still retains some of the characteristics of the developmental state. The purpose of this paper is to explain how the new regulatory state, in which the characteristics of the developmental state and the regulatory state co-exist, is being developed in Korea by analyzing the relationships between the government and large business groups and between the government and small-to medium-sized companies.