Finally published! The One Million Jobs Report, based on a research project conceived by EABC and written by Tony Michell of EABC and James Rooney of Ssangyong Templeton, is now available.

The report is a rigorous analysis in the form of easy to read diagrams of what has gone wrong in Korea tracing the Korean economy back to 1970. These diagrams form essential briefing material for head office. The underlying theme is that a failure to achieve reasonable operating surpluses (profit plus interest payments) has destroyed value in Korea.

The report moves on through an analysis of how regulations have destroyed value in Korea, and how deregulation will increase the profitability of Korean industry and create jobs. Both in the text and in the appendix, step by step fundamental deregulation is advocated starting from the Commercial Code.

The short term benefits in economic growth and employment are detailed. Particular attention is paid to small and medium industry which provides 86% of Korea's employment and does so with a very efficient use of capital. The fundamental argument is that more than one million new value-added jobs can be created.

Aspects of the report were highlighted in the Hankuk Kyongje Shinmun between October 15th and November 10th as the OMJ Report, and the policy recommendations have been adopted by a number of government agencies.

The implications and extensions of the report are still being examined and are likely to lead to the formation of an OMJ Institute funded by government and the private sector. The report has vital implications for the future of business and finance in Korea and may offer your business benefits. If you only have one book about Korea on your bookshelf, this should be the one!

The report is sponsored by Ssangyong Templeton and Citibank, and the project is continuing as a combined effort between government, Korean and foreign businesses.

The full-colour report can be viewed and purchased over the counter from Amcham's Office in the Westin Chosun Hotel, Seoul. Alternatively, the report can be obtained directly form the EABC office in Seoul or by contacting EABC.

Contents and sample pages

One Million Jobs WebSite