Yin-Yang representation of financial crisis: a Korean perspective

Journal article


Kim, A. and Vanheusden, F. 2019. Yin-Yang representation of financial crisis: a Korean perspective. International Journal of Management Concepts and Philosophy. 12 (4). https://doi.org/10.1504/IJMCP.2019.10021861
AuthorsKim, A. and Vanheusden, F.
Abstract

Although the concepts of Western-Eastern integration to optimise management strategies are well-established, investigations on the applicability of these concepts in real-life situations are lacking.

This study investigates how integration of (Eastern) Yin-Yang principles of seeking balance into Western concepts benefitted Koreans in combatting financial crises repercussions. Through analysis of 519 South Korean economic magazine covers taken over the period 2007-2012, the study shows the mindset of Korean society during the 2008 financial crisis. The covers provide a balanced interpretation of crisis events as both disastrous and opportunistic. Traditional Yin-Yang values therefore appear to be preserved in Korean management philosophy, even though contemporary Korean business strategies are strongly influenced by Western principles.

By comparing these findings with social attitudes during previous crises in Korea, the study provides a real-life example of possible benefits of integrating Eastern and Western philosophy in management strategies.

KeywordsYin-Yang harmony; media; South-Korea; financial crisis; identity; economic magazines; color interpretation
Year2019
JournalInternational Journal of Management Concepts and Philosophy
Journal citation12 (4)
PublisherInderscience
ISSN1478-1484
Digital Object Identifier (DOI)https://doi.org/10.1504/IJMCP.2019.10021861
Publication dates
Online09 Oct 2019
Publication process dates
Deposited22 Jan 2019
Accepted03 Jan 2019
Accepted author manuscript
Output statusPublished
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https://repository.canterbury.ac.uk/item/88y70/yin-yang-representation-of-financial-crisis-a-korean-perspective

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