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Peter J. Buckley and Hinrich Voss

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Peter J. Buckley and Hinrich Voss

The rapid international expansion of Chinese businesses has evoked mixed perceptions in host countries and among policymakers. This literature review critically analyses rigorous studies on the motivation, background, strategy, and impact of Chinese outward foreign direct investment and the emergence of Chinese multinational enterprises (MNEs). It is thus informative for the next wave of academic research on Chinese and emerging market MNEs in international business, political economy, economic geography and political sciences. Written by two experts in the field, this valuable study provides an important backdrop for academics who intend to understand emerging market MNEs in order to advise policymakers.
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Peter J. Buckley and Hinrich Voss

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Peter J. Buckley and Hinrich Voss

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Social Trust and Economic Development

The Case of South Korea

O. Yul Kwon

In just one generation, South Korea has transformed from a recipient of foreign aid to a member of the G20. In this informative book, South Korea is used as a case by which to explore and illustrate specific issues arising from the complex relationships between the nation’s economic development and society.
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Edited by Young-Myon Lee and Bruce E. Kaufman

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Jai-Joon Hur

This chapter examines how the Korean labor market has evolved in recent times, and how it has both influenced and been shaped by Korea’s employment and industrial relations. Restrictions on job opportunities for youth, non-regular and low-wage workers, SME workers, and women have been exacerbated by a slowdown in economic growth and tertiary degree inflation. Labor market dualism persists, while the gaps in wages and benefits along firm size and working status faultlines are widening. Reform has failed because of a lack of negotiating skill and mutual-interest acknowledgment demanded for coordination. At the same time, Korean labor market regulations lag behind those of other industrialized nations by being unfriendly to global and IT-heavy workplaces, by impeding job opportunities, and by reducing job quality. Social partners must let go of the legacies that have led to the current labor market conditions, and adopt a new cooperative approach.

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Young-Ki Choi

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Dong-Bae Kim and Fang Lee Cooke

This chapter looks at the introduction and practice of HRM deployed in Korean companies since the Asian Financial Crisis and the relationship between HRM and labor unions. The limited evidence from recent surveys and studies suggests that new HRM practices employed since the 1997 Asian Financial Crisis may have contributed to the gradual decline in union density, from a high of 18.6 per cent in 1989 to 10.2 per cent in 2015. Analysis did not find systematic evidence that HRM has directly affected labor unions, except where there was a change in union status from union to non-union. These results echo other researchers’ conclusion that the effect of labor union substitution with HRM practice is a primarily US phenomenon. A review of the extant empirical studies shows that labor unions play different roles in the adoption of specific HRM/management practices, with various impacts on workers and gendered implications.

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Edited by Young-Myon Lee and Bruce E. Kaufman

The Evolution of Korean Industrial and Employment Relations explores current employment and workplace relations practice in South Korea, tracing their origins to key historical events and giving cultural, politico-economic and global context to the inevitable cultural adaptation in one of Asia’s ‘miraculous’ democracies.