article

The Korean kye: maintaining human scale in a modernizing society

Korean studies1 • Published In 1977 • Pages: 197-222

By: Kennedy, Gerard F..

Abstract
This is a fairly comprehensive study of urban rotating credit associations, which are one type of a general class of cooperative organizations in Korea known as KYE. KYE are as old as the state itself and according to some historians represent local attempts to maintain some autonomy in a centralized state. KYE can be organized for various purposes, including labor exchange, insurance, socializing, and public works. In a rotating credit association, members contribute to a fund on a monthly basis. The fund is then given out to individual members on a rotating basis. Kennedy found that KYE have a core membership which goes on to form new KYE. Individuals are usually members of more than one KYE and membershhip in general is heterogenous. The size of the fund, rate and increment of contributions, and duration of the KYE are variable to accomodate specific strategies. KYE are extralegal, noncontractual assocations that are based on trustworthiness, especially that of the organizer, who usually holds a high position in the community. Kennedy sees KYE as 'highly successful mobilizers of cash' made possible through a 'unique accommodation of human relationsips to fiscal affairs (221).'
Subjects
Borrowing and lending
Credit
Insurance
Mutual aid
Sodalities
culture
Korea
HRAF PubDate
1998
Region
Asia
Sub Region
East Asia
Document Type
article
Evaluation
Creator Type
Ethnologist
Document Rating
5: Excellent Primary Data
Analyst
Ian Skoggard ; 1997
Field Date
1970-1971
Coverage Date
1864-1971
Coverage Place
Republic of Korea
Notes
Gerard F. Kennedy
Includes bibliographical references (p. 222)
LCCN
8645605
LCSH
Koreans