This book investigates the structural transformation of the South Korean corporate model in the wake of the 1997 financial crisis. Jang-Sup Shin, an expert in the political economy of East Asia, utilizes a combination of historical analysis and institutional theory to evaluate the effectiveness of the reforms imposed on the nation's conglomerates, or chaebols. The work argues that the standard neoliberal prescriptions for reform often ignored the specific institutional foundations that had previously driven Korea's rapid industrialization.

Experts in Asian studies and economic history frequently cite this work for its nuanced critique of standard financial reform policies. Readers note that the text provides a rigorous academic framework for understanding the complexities of institutional change in emerging markets.