The Korean Economy: Reflections at the New Millennium

by Korean National Commission (Editor)

Anthology of Korean Studies Volume I
The Korean economy is a model of extensive economic development in a short period of time. Korean success, however, has not been free of problems, and the recent financial crisis in particular can be interpreted as an example of failure in economic management. Too simplistic an interpretation of the Korean economy, whether positive or negative, should be cautioned against. In order to better grasp the contemporary Korean economy in all its complexity, it is necessary to understand the political and economic terrain as well as the time-space context in which the Korean economy is located. This volume attempts to provide readers abroad with a short but balanced introduction to economic issues in modern Korea by presenting a wide range of topics from a diverse group of contributors. Part I introduces earlier efforts at economic development and discusses their achievements and failures. In Part II, several contributors examine the meaning and effects of rapid economic growth in relation to the country's social and economic development. The 1997 financial crisis and subsequent responses by the government and corporate sector are the focus of Part III. Since the adjustment process is still continuing, a comprehensive evaluation must wait a few more years. Part IV discusses the role of the government, which was essential for the rapid growth of the Korean economy in a changing environment. Since this volume is a collection of articles published in the Korea Journal, it intends to offer readers a variety of topics and views rather than an in-depth analysis of a single topic.

448 pages, Hardcover

First published May 1, 2001

Reviews

[Earl Grey Tea · Rating 3 out of 5]

This book was a bit difficult to get through since it contains lots of dry academic articles about the Korean economy from the end of the Korean War in 1950 all the way up to the 1997 Asian financial crisis. It was a bit depressing that nearly five years out of college, my grasp of finance and economics - my major - has diminished a great deal, and this book reinforced that notion. Many of the articles contain lots of economic data and theories that I was able able to slightly comprehend. Some of the other articles were written in more of a sociological manner, and they were much more approachable and enjoyable to read.

Overall, this book looked at the rise of the Korean economy over roughly a 40 year period in which the government lead the economy in a very critical manner. This was an extremely great counterpoint to
It was a bit irksome that there were quite a few errors in the numerical charts in the first half of the book.

I'm interested in reading other books in this series about other topics concerning South Korea.

[Steve · Rating 2 out of 5]

An incredibly dry, yet informative, look at the South Korean economy. More of a reference than a read.