The Politics Of Economic Reform In South Korea

Its analysis of the recent transition and uniquely systematic treatment of labour issues are a significant contribution to scholarship on the politics of development.

South Korea transformed itself from an authoritarian government into a new democracy with a capitalist economy. Covering developments through the 2003 elections, this book shows how the South Korean government and society have been shaped by the dynamics of these forces, and their interaction with the cultural norms of a post-Confucian society.

Over the past three decades, South Korea has moved along a path of strong economic growth and political democratization, attracting worldwide attention and providing valuable lessons for other developing economies. Yet Korea still must grapple with many intractable problems fueled by its rapid industrialization and uneven growth, including unbalanced distribution of wealth, concentrated economic power, and adversarial relationships between management and labor. Within the context of these sweeping changes, this volume explores options for economic and social institutional reform in Korea. Drawing on models of economic development from Japan, the United States, and Europe, a distinguished group of Asian and Western scholars relates the experiences of previously industrialized economies to each facet of Koreas economic system, including national management; taxation and banking; land ownership and use; trade and industrial strategy; and relations among business ownership, management, and labor. In so doing, the contributors provide valuable insights and fresh proposals for a viable model of social and economic modernization. Throughout the volume, the contributors emphasize the importance of Koreas cultural heritage-not only in explaining the nations recent growth but also as a key element of its continued success. By providing an overview of the evolution and interaction of Korean economic, political, and sociocultural institutions, the contributors make clear how these structures mediate the movement between cultural values and economic progress.

Machine generated contents note: 1. Introduction; 2. Theoretical reinterpretation of the small welfare state in South Korea; 3. The emergence of the small welfare state under the authoritarian developmental state (1961-1987); 4. Democratization and limited welfare state development under the conservative rule (1987-1997); 5. Economic crisis, power shift, and welfare politics under the Kim Dae Jung government (1997-2002); 6. Economic Unionism and the limits of the Korean welfare state under the Roh Moo Hyun government (2003-2007); 7. Wind of welfare and tax politics under the returned conservative rule; 8. Conclusion

While foreign policy and security concerns have trumped past efforts to reform the North Korean economy, Pyongyang is implementing important economic reforms despite renewed tensions with the United States. Whether Washington can influence the debate is unclear, but a US policy of engagement could enhance the chances of success for North Korean advocates of reform.

There are two great mysteries in the political economy of South Korea. How could a destroyed country in next to no time become a sophisticated and affluent economy? And how could a ruthlessly authoritarian regime metamorphose with relative ease into a stable democratic polity? South Korea was long ruled with harsh authoritarianism, but, strangely, the authoritarian rulers made energetic use of social policy. The Korean State and Social Policy observes South Korean public policy from 1945 to 2000 through the prism of social policy to examine how the rulers operated and worked. After the military coup in 1961, the new leaders used social policy to buy themselves legitimacy. That enabled them to rule in two very different ways simultaneously. In their determination to hold on to power they were without mercy, but in the use of power in governance, their strategy was to co-opt and mobilize with a sophistication that is wholly exceptional among authoritarian rulers. It is governance and not power that explains the Korean miracle. Mobilization is a strategy with consequences. South Korea was not only led to economic development but also, inadvertently perhaps, built up as a society rich in public and civil institutions. When authoritarianism collapsed under the force of nationwide uprisings in 1987, the institutions of a reasonably pluralistic social and political order were there, alive and well, and democracy could take over without further serious drama. This book is about many things: development and modernization, dictatorship and democracy, state capacity and governance, social protection and welfare states, and Korean history. But finally it is about lifting social policy analysis out of the ghetto of self-sufficiency it is often confined to and into the center ground of hard political science.

Brian Bridges examines the impact on South Korea of the financial crisis of 1997. Covering events up to and including the recent parliamentary elections in South Korea, the book considers the socio-economic and political implications of the financial crisis. It is invaluable reading for students of modern Korea.

An Agenda for Economic Reform in Korea looks at Korea's economic problems from the perspective of the American experience with economic reforms and sheds new light on the problems of economic reform facing nations all over the world. The authors examine such issues as corporate governance, social welfare, labor relations, and other pressing challenges—and suggest a new vision for the Korean economy.