The purpose of this paper is to investigate the nature of Korean capital by analyzing the process of capital accumulation in Korea during the period of 1945-1961. This study will be a tool for recognition of Korean capitalism.
According to this study...
The purpose of this paper is to investigate the nature of Korean capital by analyzing the process of capital accumulation in Korea during the period of 1945-1961. This study will be a tool for recognition of Korean capitalism.
According to this study, the prime moments which contribute to capital accumulation are Farmland reform, Government-vested properity disposal, Aids and Treasury loans and investments. The major findings of this study are as follow;
(1) Farmland reform partly converted land capital into industrial capital, and it enabled farmers to possess farmland.
(2) Government-vested property disposal created material basis which formed the bureaucratic and monopolistic capital through the disposal.
(3) Aids(mainly from United States) played a decisive role in the process of capital accumulation. But they were one strategy for advanced state monopoly capital. In conclusion, they made Korean capital subordinated to advanced monopoly capital.
(4) The Allocation of Treasury loans and investments for which government raise counterpart fund is the creation process of greatly monopolistic capital.
Ultimately, capital-labor relation that is the capitalist university of the reproduction on an expanded scale carried through the process of capital accumulation in Korea during that time. Therefore, the nature that Korean capital is subordinated to an advanced monopolistic capital and is depended on political power is consistent with expansion of capitalist reproduction in relation to monopolistic capital.