South Korea and the Global Economy in Transition

In only two generations, South Korea has transformed from an economic "basket case" into one of the world’s leading economies and trading states. Its phenomenal economic development brought its people out of poverty, modernized its society, and culminated in a dynamic democracy. Today Korea stands as a leading developmental model for countries throughout East Asia and, indeed, the entire world.

Having achieved an advanced economy, Korea’s economic policymakers now face major new challenges. The ever-increasing pace of globalization requires that they provide a vision for the economy that takes into account increased competition, the transition in postwar global financial and trade regimes, scientific and technological revolutions, energy shortages, and climate change, among many others. Korea is seeking again to be a model, this time in leading the way in adjusting to and shaping a new global economic era. The administration of President Lee Myung-bak has undertaken major reforms at home, and is also playing a significant role in international economic, trade, and financial policymaking, including as host of the November 2010 G20 summit.

Using Korea as a case study to explore the parameters of economic globalization and individual states’ adjustment to it, Stanford’s Korean Studies Program, in collaboration with the Korea Development Institute, will host an international workshop on campus, March 18–19, 2010. Leading scholars and former senior officials from Korea and the United States will explore key aspects of economic globalization and Korea’s role, from policies and politics, to the economic prospects of a unified Korea. Their presentations will be published as an edited volume in conjunction with the Brookings Institution Press. 

The Koret Fellowship was established at the Korean Studies Program in 2008, with the generous support of the Koret Foundation, to bring leading professionals in Asia and the United States to Stanford to conduct research on contemporary U.S.-Korean relations, with the broad aim of fostering greater understanding and closer ties between the two countries.

This workshop is supported by the generous grant from Koret Foundation.