This study analyzes the background of the Seoul Olympics, as well as its expected economic effects.
Since the 1960s, the Korean economy has been undertaking a leap forward to join the ranks of advanced industrial nations by reducing poverty and achieving rapid growth. The hosting of the Summer Olympics in Seoul will serve to advance Korea’s, as it can stimulate progress in fields including diplomatic affairs, society, culture, and the economy.
First, in terms of diplomatic affairs, the hosting of the Olympics in Seoul will not only offer Korea the opportunity to secure a dominant position over North Korea and strengthen ties with long-time allied nations, but it will also motivate the expansion of its relationships with nations with no diplomatic ties, as well as the communist bloc. Second, in terms of society, the Seoul Olympics will give Koreans the opportunity to set a common voluntary goal for all citizens, contributing to patriotism and the spirit of teamwork, and acceptance of the social order, contributing to the stabilization of Korean society. Third, from a cultural perspective, the Seoul Olympics will draw peoples’ interest in traditional Korean culture, and help to spread Korean culture around the world. Fourth, from an economic perspective, the Seoul Olympics will be a profitable event, and provide Korea with a great opportunity to enhance the recognition of Korean-made products and brands in related industries such as tourism, folk art, sports, and recreational products, in the overseas market.
However, we can expect the positive effects of the Seoul Olympics only if the Seoul Olympics is a great success. Accordingly, the Korean government should ensure that national security can respond promptly to possible sabotage by North Korea. All relevant institutions, including the Olympic Games Organizing Committee, the Ministry of Sports, and Seoul City should perform their duties efficiently. Also, there should be active support and cooperation from the general public.
Korea can learn lessons from the previous Olympic Games, such as the Tokyo Olympics, which utilized the event effectively for national development, and the LA Games, which made the most of public participation and economic feasibility, for the success of the Seoul Olympic Games. With the Seoul Olympics only a year away, the Korean government, the institutions relevant to the global event, and all Korean people should contribute towards maximizing the positive effect of the Olympics on national development, and minimize the adverse effects that can arise in the course of preparing for the event.
서울올림픽의 국가발전적 의의(The significance of the Seoul Olympic games for national development)
|Series Title; No||정책연구시리즈 / 87-01|
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Social Development < General|
|Holding||KDI; KDI School|