@article{ART003275276},
author={Lee Jung Eun},
title={Korean Firms’ Engagement with Japanese Commercial Loans in the 1960s - State, Business, and Foreign Capital Dynamics},
journal={Journal of Humanities, Seoul National University},
issn={1598-3021},
year={2025},
volume={82},
number={4},
pages={369-421},
doi={10.17326/jhsnu.82.4.202511.369}
TY - JOUR
AU - Lee Jung Eun
TI - Korean Firms’ Engagement with Japanese Commercial Loans in the 1960s - State, Business, and Foreign Capital Dynamics
JO - Journal of Humanities, Seoul National University
PY - 2025
VL - 82
IS - 4
PB - Institute of Humanities, Seoul National University
SP - 369
EP - 421
SN - 1598-3021
AB - This study analyzes how Korean private firms applied for and utilized Japanese commercial loans during the period surrounding the normalization of diplomatic relations in 1965. Korean firms submitted applications that far exceeded Japan’s annual approval ceiling, reflecting their strong demand for external financing. Yet, within the dual-approval system — requiring both domestic authorization and the Japanese government’s Export License (E/ L)— firms had to coordinate closely with the Korean government, justify the urgency of their projects, and mobilize political resources. The Japanese government also prioritized the interests of Japanese corporations, shaping the distribution and approval of loans. Application data from late 1967 indicate concentrated investment preferences in synthetic fibers, chemicals, metals, and transportation, with a shift toward emerging sectors such as automobiles, electronics, petroleum refining, and petrochemicals in the late 1960s. These investment patterns were not determined unilaterally by Korea’s economic development plans, but rather resulted from the interaction of corporate strategies, government policy, and the interests of foreign capital.
Such multilayered dynamics constituted a key foundation of the Korean economy’s evolving structure from the late 1960s onward.
KW - Commercial Loans;Normalization of Korea–Japan Relations;;Korea–Japan Economic Relations;Korean Private Enterprises;Economic;Development Plans;Park Chung Hee Government
DO - 10.17326/jhsnu.82.4.202511.369
ER -
Lee Jung Eun. (2025). Korean Firms’ Engagement with Japanese Commercial Loans in the 1960s - State, Business, and Foreign Capital Dynamics. Journal of Humanities, Seoul National University, 82(4), 369-421.
Lee Jung Eun. 2025, "Korean Firms’ Engagement with Japanese Commercial Loans in the 1960s - State, Business, and Foreign Capital Dynamics", Journal of Humanities, Seoul National University, vol.82, no.4 pp.369-421. Available from: doi:10.17326/jhsnu.82.4.202511.369
Lee Jung Eun "Korean Firms’ Engagement with Japanese Commercial Loans in the 1960s - State, Business, and Foreign Capital Dynamics" Journal of Humanities, Seoul National University 82.4 pp.369-421 (2025) : 369.
Lee Jung Eun. Korean Firms’ Engagement with Japanese Commercial Loans in the 1960s - State, Business, and Foreign Capital Dynamics. 2025; 82(4), 369-421. Available from: doi:10.17326/jhsnu.82.4.202511.369
Lee Jung Eun. "Korean Firms’ Engagement with Japanese Commercial Loans in the 1960s - State, Business, and Foreign Capital Dynamics" Journal of Humanities, Seoul National University 82, no.4 (2025) : 369-421.doi: 10.17326/jhsnu.82.4.202511.369
Lee Jung Eun. Korean Firms’ Engagement with Japanese Commercial Loans in the 1960s - State, Business, and Foreign Capital Dynamics. Journal of Humanities, Seoul National University, 82(4), 369-421. doi: 10.17326/jhsnu.82.4.202511.369
Lee Jung Eun. Korean Firms’ Engagement with Japanese Commercial Loans in the 1960s - State, Business, and Foreign Capital Dynamics. Journal of Humanities, Seoul National University. 2025; 82(4) 369-421. doi: 10.17326/jhsnu.82.4.202511.369
Lee Jung Eun. Korean Firms’ Engagement with Japanese Commercial Loans in the 1960s - State, Business, and Foreign Capital Dynamics. 2025; 82(4), 369-421. Available from: doi:10.17326/jhsnu.82.4.202511.369
Lee Jung Eun. "Korean Firms’ Engagement with Japanese Commercial Loans in the 1960s - State, Business, and Foreign Capital Dynamics" Journal of Humanities, Seoul National University 82, no.4 (2025) : 369-421.doi: 10.17326/jhsnu.82.4.202511.369
