What efforts have governments in Korea made to reform the chaebol Essay

What efforts have governments in Korea made to reform the chaebol since the mid 1990s - Essay Example Over the past two decades its annual growth rate in terms of gross national product (GNP) has been 9% and exports have increased 30%--the highest increase and growth rate in the world for that time span. By achieving $70 billion annually in exports, with a surplus in ordinary balance of more than $9 billion a year, Korea is now among the worlds top ten exporters. Today, Koreas per-capita income has reached $5,000--up from a meager $82 in 1961 (Chan Sup Chang, 1988). It is clear that strong leadership, sound economic planning by the government and the prodigious productivity of Koreas workers are important elements in this remarkable economic boom. As one Japanese executive said, "The Koreans are the only people who still work hard." Skilled and diligent workers have been an especially important driving force behind economic success (Ihlwan, 1998). According to the International Labour Organization, the Korean work week averages 54.4 hours--the highest in the world. However, the real catalysts in Koreas economic success have been the efforts of the private business sector, especially those of the chaebols (Korean conglomerates or financial cliques). The Bank of Korea reports that the total earnings of Koreas top 30 chaebols will reach $200 billion--about 95% of the nations GNP--in the 1990s. Clearly, the state of the Korean economy reflects the success of the chaebols; as a result, these groups have piqued international interest. In this article we shall examine the corporate values and strategies unique to chaebols. Korean chaebols--e.g., Hyundai, Samsung, and Lucky-Goldstar--emerged as major corporations during the late 1950s. The formation and growth of such conglomerates accelerated between the early 1960s (e.g., Hanjin, Korea Explosive, Hyosung, Ssangyong, and Dong-A) and the early 1970s (e.g., Daewoo, Sunkyong, Lotte, Kolon, and Doosan). Korean chaebols are often compared to

Water and oil separator Essay Example | Topics and Well Written Essays - 1750 words

Water and oil separator - Essay Example Water and Oil separators that are properly, designed, operated and installed can provide a treatment system to be used in handling of oily wastewater. This can help prevent any entry of an unacceptable levels of contamination to either a sanitary sewer system or storm sewer (Grigsby 54). However, water and oil separators are never designed to help separate high concentration of oils or solids from water such as large quantity of sludge or oil that is poured or spilled in the wash bay drain. It is, therefore, important for the people tasked with discharging wastewater into water and oil separators to understand their principle of operation, and their limitations. This will help prevent pollution of the environment. This paper discusses the common types of water oil separator systems. The focus is on their principle of operation, and the common properties of typical water and oil wastewater streams. Currently, there are two types of oil water separators (U.S. Army Aberdeen Test Centre, 27). These two exist in varying designs. The first design, which is also the oldest, is called the conventional/gravity separation or API separator, and the coalescing design or parallel corrugated plate. The conventional/gravity design provides a certain tank width, depth and length that gives a wide, and quiet spot within the pipeline. This times for the oil to rise. This API design depends on the large water volume and can provide about 100 ppm discharge oil concentration on a 150-micron droplet size. This correlates with the size of the tank, which can potentially hold 5 times the size on sized coalescing separator. On the other hand, the coalescing design or parallel corrugated plate has a large surface area that is in contact with coalescing plates (the waste stream). This design has a coalescing media, which causes the size of the tank to reduce. It also increases efficiency of its performance. The separation process