Where Is Korea Going?

There have been signs of dwindling exports, and Korean electronics companies have reined in production levels of certain products like TFT-LCD.

Meanwhile, many manufacturing jobs have been sent to China. For instance, the leading Korean electronics companies are becoming more like the U.S. platform companies, offshoring manufacturing jobs.

Korea is pressed to open up its service markets to U.S. firms.

We have seen how global forces can dismantle the once robust manufacturing-based country.

Korea’s national debt is mounting.

Korea’s middle class base is shrinking; income disparity growing.

There have been serious military conflicts.

Korea hasn’t come up with future growth platforms.

Again, policy and leadership matter.

Policy choice should be closely aligned with the nature of the society it wishes to encourage.

The greed is good attitude shouldn’t prevail at every level of the Korean society.