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South Korea’s rapid economic development during the latter part of the 20th century is well-documented. The “Miracle on the Han River” transformed South Korea from one of the world’s poorest countries to one of its wealthiest in a little over one generation. Despite this prosperity, South Korea now copes with a host of socio-economic challenges as its economy matures and growth slows. This has resulted in angst amongst South Korea’s younger generation, who feel less optimistic and more disillusioned about a future where social, economic, and political structures increasingly appear to be obstacles to social mobility, opportunity, and pursuit of status. Though this talk will discuss evidence and implications of this phenomenon in South Korea, such themes are also relevant for other countries facing the socio-economic impact of waning growth.
South Korea’s rapid economic development during the latter part of the 20th century is well-documented. The “Miracle on the Han River” transformed South Korea from one of the world’s poorest countries to one of its wealthiest in a little over one generation. Despite this prosperity, South Korea now copes with a host of socio-economic challenges as its economy matures and growth slows. This has resulted in angst amongst South Korea’s younger generation, who feel less optimistic and more disillusioned about a future where social, economic, and political structures increasingly appear to be obstacles to social mobility, opportunity, and pursuit of status. Though this talk will discuss evidence and implications of this phenomenon in South Korea, such themes are also relevant for other countries facing the socio-economic impact of waning growth.