Capitalist Landownership and State Policy in 1989-1990 in Korea

Abstract

In 1989, the Korea government enacted the new land acts to remedy-land speculation. And following that successively in 1990, the government ordered that large capitalists (chaebol) sell their large landholding to others who are end users. Examining changes in the Korean land policy promulgated in those years, this paper argues that land-owning chaebol prevented any substantial social transformation. Referring to these experiences, the author concludes that land-owning chaebol are likely to hinder the implementation of progressive land reforms under the Kim government.