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A Basic Study on the Establishments, Transformations, Terminations of QUANGOS: Focused on the Economic and Political Authority of POSCO

  • Korean Society and Public Administration
  • Abbr : KSPA
  • 2005, 16(2), pp.55-76
  • Publisher : Seoul Association For Public Administration
  • Research Area : Social Science > Public Administration

LEE. S. C 1 Ha sang gun 2 Sung, Do Kyung 3 Man Yong Heo 4

1부산대학교
2건동대학교
3영남대학교
4동국대학교

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ABSTRACT

The purpose of this study is to analyze the change of political authority and economic authority dividing establishments, transformations, terminations into POSCO growth processes. In establishing stage, POSCO is planned and operated by government in spite of corporation regulated commercial law. In that time, It was treated government-controlled corporation. Accordingly, political authority is very high and economic authority is very low. In transforming stage, It carries out corporationꡑs public offering of stocks but government is the largest stockholder. In that time, the promoting law and import limits on steel industry were abrogated but export regulations and price control were maintained. Therefore, political authority is relatively decreased and economic authority is preserved. In terminating stage, Government sells the whole quantity of POSCO stocks and it is released from public corporations. It is transformed into corporation with shares traded publicly on stock market. Hence, economic authority is relatively increased and political authority is reduced. These transformations are positively evaluated on economic aspects. Government explores the measures of market competition and deregulation on corporation's public offering of stocks. This study offers suggestion which are restricted within narrow limits because it studies only one case study. The following studies will suggest various comments studying corporations passed through different transforming processes.

Citation status

* References for papers published after 2022 are currently being built.

This paper was written with support from the National Research Foundation of Korea.