Asian Perspective

Abstract:

In this article we examine the politics of state-owned enterprise (SOE) reform in South Korea, specifically the privatization of Korea Electric Power Corporation. We focus on the policymaking process among government agencies and actors involved in SOE reform. The policy actors are identified, as are their preferences—efficiency versus the public good—and the strategies adopted to pursue them. The case illustrates how a particular SOE reform policy can take a long time to work through as each stakeholder attempts to pursue its preferences using various political ideologies and strategies in ever changing social, economic, and political environments. We present the lessons of the case for SOE reform.