재벌에 의한 경제력집중은 한국 경제에서 차지하는 재벌의 비중과 재벌의 상대적 위치 안정성에 의해 분석되고 있다. 본 연구에서는 1986-2002 기간에 걸쳐 재벌의 비중과 재벌의 위치 안정도가 어느 정도이고 어떻게 변화해 왔는지를 기준으로 재벌에 의한 경제력집중을 분석하였다. 분석결과에 의하면 1998년까지는 재벌의 총괄집중률(aggregate concentration)이 완만하게 증가하면서 각 재벌의 상대적 위상도 매우 안정적이었던 것으로 나타났다. 이것은 동기간에 재벌에 의한 경제지배력이 점점 강화되어 왔을 것이라는 개연성을 보여준다. 그러나 1997년의 금융위기 이후 재벌의 구조조정이 본격화되면서는 이러한 추세에 큰 변화가 일어났다. 재벌의 총괄집중률이 감소했을 뿐만 아니라 각 재벌의 상대적 위상도 매우 불안정해졌다. 따라서 재벌에 의한 경제력집중은 금융위기 이전에 비해 매우 약화되었다고 평가할 수 있다. 그런데 재벌 구조조정이 마무리 되어가는 2001년부터는 재벌 판도가 다시 안정적인 구도로 이동해 가고 있다는 것을 발견할 수 있었다.

This paper attempts to analyze both static and dynamic aspects of economic concentration due to conglomerate chaebols in Korea, by examining the turnover and mobility among the 30 largest chaebols, in addition to measuring aggregate concentration. Aggregate concentration of top 30 chaebols almost reached 50% of total non-financial business assets or business sales in the Korean economy. It was stable and increasing in 1990s until 1998, but drastically decreasing after 1998 with chaebol reforms following the financial crisis in 1997. Turnover of the top 30 chaebols was low and stable before 1998. But it became very high after 1998. Mobility of survivor chaebols within the top 30 chaebols was also low and stable before 1998, but turned to high after 1998. The analysis of turnover and mobility both similarly show that chaebols were solidly entrenched to their relative positions before the financial crisis, but became unstable in keeping their positions after the chaebol reforms following the 1997 financial crisis. The results of turnover and mobility analysis reinforce the results of aggregate concentration analysis. The economic concentration turned from high to low during the process of chaebol reforms following the 1997 financial crisis.

This paper attempts to analyze both static and dynamic aspects of economic concentration due to conglomerate chaebols in Korea, by examining the turnover and mobility among the 30 largest chaebols, in addition to measuring aggregate concentration. Aggregate concentration of top 30 chaebols almost reached 50% of total non-financial business assets or business sales in the Korean economy. It was stable and increasing in 1990s until 1998, but drastically decreasing after 1998 with chaebol reforms following the financial crisis in 1997. Turnover of the top 30 chaebols was low and stable before 1998. But it became very high after 1998. Mobility of survivor chaebols within the top 30 chaebols was also low and stable before 1998, but turned to high after 1998. The analysis of turnover and mobility both similarly show that chaebols were solidly entrenched to their relative positions before the financial crisis, but became unstable in keeping their positions after the chaebol reforms following the 1997 financial crisis. The results of turnover and mobility analysis reinforce the results of aggregate concentration analysis. The economic concentration turned from high to low during the process of chaebol reforms following the 1997 financial crisis.

aggregate concentration, chaebol, turnover, mobilityJEL Classifications: L1, L2, L4