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Social welfare reform since the 1997 economic crisis in Korea : Achievement, limits, and future prospects

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  • Social welfare reform since the 1997 economic crisis in Korea
  • Ku, Inhoe
  • John Wiley & Sons


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Title Social welfare reform since the 1997 economic crisis in Korea
Similar Titles
Sub Title

Achievement, limits, and future prospects

Material Type Articles
Author(English)

Ku, Inhoe

Publisher

[New York, U.S.]:John Wiley & Sons

Date 2007
Journal Title; Vol./Issue Asian Social Work and Policy Review:vol. 1
Pages 15
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Social Development < Social Welfare
Holding John Wiley & Sons

Abstract

Social welfare reform has been implemented in Korea since the 1997 financial crisis. A dominant concern of the reform was on equality and social solidarity. A major means to this end was establishing universalistic social insurance programs like those in developed welfare states. The reform efforts produced some positive results but were not greatly successful. Income polarization and the deteriorating economic status of low-income families have become big social issues. Many low-income families have not gained many benefits from the reformed social security system. The rapid aging of the population is creating an exploding demand for social spending, risking the fiscal sustainability of major social insurance programs. The reform experience suggests that a social welfare system based on western-style universal social insurance may be too expensive to sustain and not very effective in protecting disadvantaged families in Korea. (The rest omitted)