Privatization of state infrastructure

World's political and economic environments are changing dramatically. Economic bloc is commonly recognized as an international trend and all nations are making the best effort to maximize their benefits. In Korea, the private enterprises obtained good achievements in the electronic and motor manufacturing industries despite international intense competitions. They contributed to the development of country's competitiveness and to the accumulation of wealth. The success of Korea's private enterprises resulted from the renovation of management and management's determined working principles. By applying the management models of private industries, state enteprises might bring its efficient management. The majority of state enterprises in Korea was established in early 1970 when GNP per capita was only U$200. However, some state enterprises, such as Korea Telecommunication, were established in 1980's when the GNP per capita was U$1,800