本文主要論點是認為南韓遭受去年金融風暴的打擊，其原因是來自大企業的經濟 壟斷及扭曲自由市場競爭的機能。自七０年代以來，南韓的經濟發展被認為是東亞發展模式 的典範，南韓自一九七三年以來在朴正熙政權的主導下，以威權國家為主導，在安全與經濟 的考量下，全力發展以大企業為主體的「重化工業」，來實施「經濟大推進」計畫，並對外 舉債，以求國家經濟的快速發展。但在這種經濟發展模式下，政府依賴大企業來促進經濟成 長，大企業仰賴政府所控制的銀行機構給予充裕資金來擴大規模，形成「策略性的互賴」（ strategic interdependence ）。到了全斗煥政權時期，由於重化工業的過度發展及面臨全 球性的經濟不景氣，全斗煥便進行所謂的「穩定經濟計畫」，想要減少大企業在國內市場所 佔的比例及降低通貨膨脹的危機，但是大企業在經濟的影響力已遠超過技術官僚與政府的能 力，使得失衡的企業結構及脆弱的金融體制成為南韓經濟成長背後的最大隱憂。去年東亞金 融風暴終於將南韓脆弱的企業體系及扭曲的金融機制完全顯露出來，在南韓大企業紛紛倒閉 及國際收支不斷惡化的情況下， 使得南韓政府不得不拋下民族自尊， 接受國際貨幣基金（ IMF ）的經濟托管。因此本文將從一九七二至一九七九年南韓重化工業的經濟發展模式，來 探討南韓政府、企業與銀行機構之間的互動關係，以探索出這次金融風暴的真正意涵。

　　　　　Beginning in the 1970s, the Park Chung-Hee government borrowed foreign capital to promote the heavy-chemiscal industry as part of the general plan to promote rapid economic growth. Under this economic development model, the South Korean government has controlled national finance in order to supply a large amount of money to the chaebols. As the chaebols stimulate economic prosperity but are yet also dependant on national capital, this phenomenon has become known as "strategic economic interdependence." This interdependence began in the 1980s, yet the unbalanced sectoral structure and fragile financial system gradually worked to undermine the economic achievements of South Korea as chaebols incrementally monopolized the economic structure. The financial turbulence in 1997 ultimately exposed South Korea's distorted political economic structure. With unbalanced international payments and the bankruptcy of chaebols, South Korea turned to the International Monetary Fund for assistance. This article introduces the South Korean economic development experience and highlights the relationship between government, chaebol, and banks from 1972 to 1997 in order to explore the primary reasons behind South Korea's economic dilemma.