"Act on Special Measures for Industrial Revitalization(hereinafter referr ed to as ``ASMIR``)" was legislated in Japan in 1999, for the purpose of overcoming 1990s` long recession called ``lost 10 years``. The main purpose of this act is to improve a ...
"Act on Special Measures for Industrial Revitalization(hereinafter referr ed to as ``ASMIR``)" was legislated in Japan in 1999, for the purpose of overcoming 1990s` long recession called ``lost 10 years``. The main purpose of this act is to improve a industrial constitution and to strengthen a national competitiveness, by attracting active and voluntary revitalization (including M&A, establishment of company, spin off, business transfer, equipment investment, R&D investment, etc.) of companies with the government offer ing companies various incentives. The major feature of this act may be summarized as follows. First, ASMIR is applied to not only insolvent enterprise but also a norma l enterprise. Second, various incentives are offered to companies in the method of a package (so-called ``one stop service``), For example, the corpor ation approved by government on ASMIR may be given the benefits of tax cut, financial support, simplification of procedure, etc. at once, Third, an effect and side effect of the various exceptions may be tested by applying to a particular corporation selectively (so-called ``Pilot Test``). Forth, this act may be a new solution to achieve the national agenda, for example, resource saving, low carbon, green growth. ASMIR as above has been estimated to contribute to overcome 1990s` long recession in Japan. But it seems that there is no act like ASMIR in Republic of Korea. For this reason, I made an attempt to seek for desirabl e policy direction to overcome a global financial crisis early and to achieve a long-term stable economic growth, by researching concrete cases and contents of Japanese ASMIR in this thesis.