Rethinking Globalization in the Korean Context

What has been the motive behind globalization? Has globalization served the industrialized nations better or the powerful and rich in the world, regardless nationality? Who has taken advantage of globalization the most? Has globalization heightened or eroded the standard of living? How has the China factor influenced the globalization drive across the border?

There has been a continuous contention for control over resources worldwide. The MNCs have globalized their operations mainly in the pursuit of lower wages. Capital has also been moving worldwide. How has the wealth been transferred worldwide in favor of whom over the last few decades?

What has been the meaning and purpose of globalization in the Korean context? How has Korea benefited or hurt by globalization? What effects have global wage arbitrage had on the Korean economy?

As Korea opened its economy to external capital flows, there was the massive increase in FDI in the 1990s. How has increased foreign capital and participation changed the landscape of the Korean economy? What can be the proper role of a government in developing countries in external capital flows?

How can Korea cope with global forces such as the actions of the WTO and FTA? How has Korea dealt with conflicted forces at work: nationalism and globalization? How solid are Korea’s industrial structures in weathering the volatile global circumstances?

Harnessing these forces and reflecting the reality of them in government policies have been neither straightforward nor easy.