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The developmental state, speculative urbanisation and the politics of displacement in gentrifying Seoul

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  • The developmental state, speculative urbanisation and the politics of displacement in gentrifying Seoul
  • Shin, Hyun Bang; Kim, Soo-Hyun
  • London School of Economics and Political Science


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Title The developmental state, speculative urbanisation and the politics of displacement in gentrifying Seoul
Similar Titles
Material Type Articles
Author(English)

Shin, Hyun Bang; Kim, Soo-Hyun

Publisher

[London, U.K.] : London School of Economics and Political Science

Date 2016-02
Journal Title; Vol./Issue Urban Studies:vol. 53(no. 3)
Pages 30
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Territorial Development < National Land Development
Holding EconPapers
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Abstract

What does gentrification mean under speculative urbanisation led by a strong developmental state? This paper analyses the contemporary history of Seoul’s urban redevelopment, arguing that new-build gentrification is an endogenous process embedded in Korea’s highly speculative urban development processes from the 1980s. Property owners, construction firms and local/central governments coalesce, facilitating the extraction of exchange value by closing the rent gap. Displacement of poorer owner-occupiers and tenants was requisite for the success of speculative accumulation. Furthermore, the paper also contends that Korea’s speculative urbanisation under the strong developmental (and later (neo-)liberalising) state has rendered popular resistance to displacement ineffective despite its initial success in securing state concessions. Examining the experience of Seoul in times of condensed industrialisation and speculative urbanisation helps inform the existing literature on gentrification by resorting to non-Western empirics.