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| 1 |
ID:
137188
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| Summary/Abstract |
In this article we explore whether South Korea's long-standing tradition of economic nationalism remains an appropriate development strategy, or whether this approach has been rendered irrelevant by the current wave of neoliberal globalization led by multinational corporations. We examine the changed economic agendas of each Korean regime, with a particular focus on national identity and economic nationalism, mobilized and implemented by the state. We argue that, despite the rapid development of globalization and cosmopolitanism in South Korea, economic nationalism is still prevalent. Korea's adoption of neoliberal economic activities, such as lifting trade barriers to encourage the inflow of foreign direct investment, was necessary to assist certain areas of the economy. Furthermore, changing the direction of the growth trajectory remains subordinate to the goal of state building. Empirical analysis of results collected from survey data and one-on-one interviews conducted in 2010 help to validate our hypothesis.
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| 2 |
ID:
082256
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| Publication |
2008.
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| Summary/Abstract |
This article argues that Korea's prevailing strong belief in self-sufficiency and the legacy of the state-led and overly regulated external policies which dominated prior to the 1997 financial crisis had become an obstacle to Korea's seeming pursuit of economic liberalism based on inward foreign direct investment (FDI). Although the momentum of globalization ignited during the 1997 financial crisis has enabled Korea to undertake a speedier market opening and draconian structural reforms, there has been no fundamental turnaround yet in the mindset of the Korean government, bureaucrats, corporate sector, or the people in general-the ultimate measure of globalization. This article critically evaluates the impacts of the legacy of the state-led economic development (economic nationalism/mercantilism) model on Korea's newly adopted FDI-led globalization strategy.
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