The Conversion of East-Asian law-making bases for Economic Laws: Comparative Study on Korea and Japan Economic Laws

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Facing at the extraordinary economic growth of China, Japanese government and Korean government make Industrial Structure Coordination that seem to be getting out from bureaucrat-initiated economic policy laws, and getting into the America way of market oriented policy laws. Korean government seemed to think that economic domination of Korean large conglomerates(Chaebols) are ultimate cause of currency crisis in 1997. To regulate the Chaebols domination is now main target of Korean Industrial Structure Coordination. Korean Fair Trade Commission tried to change the Korean large conglomerates(Chaebols) to the more transparent holding-company.Japanese economic policy is also going into the great change. The bureaucrat-initiated economic policy in Japan are now changed from the discretionary-based, and the administrative pre-regulations, to rule-oriented and judiciary-like post-regulations. Japanese Fair Trade Commission and the Japanese Prosecute threw the book of rules at many white-colored economic crimes like Bureaucrat-Made Cartels ; "Kansei-Dangou". The courts also acutely penalize the stock-exchange laws offenders like "Horiemon" in Live-Door Case.It became very clear today that the old basements of economic-law-makers are changed and conventional industrial policies in Japanese government and Korean government are almost disappeared. If this new trends does not mean disappear of economic laws in themselves, challenges are making new platform of market oriented economic laws. These trends begin just now. No-one can tell anything about the future of Industrial Structure Coordination. But Industrial Structure Coordination of both countries will make new East-Asian platform of market oriented economic laws, even in the different ways.