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The paradoxes in globalization's economic empowerment of South Korea

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  • The paradoxes in globalization's economic empowerment of South Korea
  • Clark, Cal
  • UNESCO


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Title The paradoxes in globalization's economic empowerment of South Korea
Similar Titles
Material Type Reports
Author(English)

Clark, Cal

Publisher

[Paris]:UNESCO

Date 2015
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Economy < Economic Administration
Holding UNESCO

Abstract

From a broad perspective, South Korea’s “Miracle on the Han River” appears quite miraculous. Economically, South Korea was transformed from one of the poorest nations in the world at the end of the Korean War to a developed nation in the early twenty-first century. The growing globalization of the world economy clearly empowered South Korea as growing integration into the world economy was the centerpiece of the nation’s economic developmental strategy. Yet, Korea’s rapid growth and industrial transformation appear paradoxical in several key regards. First, an economic miracle should produce a satisfied and grateful population, but most leading politicians and the country’s leading economic and political institutions have been fairly unpopular during most of South Korea’s postwar history. Second, the South Korean experience crosscuts the normal debate in development studies, which conflates globalization and neoliberalism. (The rest omitted)