ABSTRACT
Heon Joo Jung examines how South Korean industrial and economic policies have evolved in response to the 1997 and 2008 financial crises in Chapter 24. Specifically, Jung takes a closer look at continuity and change in economic policy-making, implementation, and policy measures with a focus on the South Korean state’s efforts to cope with globalization and market forces which led to the ascendance of internationally-competitive industrial giants as well as a concentration of economic power and social polarization. There is a great need to devise and implement economic policies to transform the South Korean economy from a manufacturing and export-led economy to a more equitable one driven by creativity and innovation without sacrificing chaebol’s international competitiveness and core competencies.
