Rethinking Development in the Korean Context

In the process of rebuilding the economy from the devastated loss of the Korean War, development drive has permeated every corner of the Korea society for the last few decades.

Reflecting on the trajectory of development, some fundamental questions remain to be answered or revisited.

What have been the goals of development in general and characteristics of growth strategy in the Korean context?; Has there been any major shift in Korea’s development strategy after the Asian financial crisis?; What would be the yardsticks to measure genuine development and progress in a developing country including Korea?

Has economic development been pursued to a degree at the expense of political and social development?; If economic transformation involves social and political transformation, how can this be accomplished in a balanced way? I would posit that a nation needs to build not only financial capital base but also social capital foundation.

Can a society be better off if social growth and infrastructure building is more geared toward the well-being of the large public although this approach may grow the economy at a slower pace?; Is this development approach sustainable in the midst of rampant forces of globalization and geopolitical interests?; Has this line of development approach been embodied in the trajectory of development in Korea?