State-Civil Society Synergy and Cooptation:

ln thisessay, It/e argue that state-civil society synergy is a Iterful driving force for e∞nomic changey the mbination of public policies and civil society engagement ensure an efficient implementation of refonl\S. We ilIustrate us argument with g case of the politically motivated mìnority shareholder movement that was a crucial factor in the reform of large business con glomerates in Korea since the 1997 198 Asian Financial Crisis However, we aιo found that the results of civilety activity in the minority shareholder movement were mixed. The movement was sucæssful where interest over1apdwi profit-ori ented shareholders, but failed in caherein broader political goals and comprehensive struct1ral reforms were envisioned nte originally political minority shareholder movement became depoliticized and was ωccessively co-opted by the dynamics of shareholder capitalism