The New Korea: An Inside Look at South Korea's Economic Rise - Hardcover

Kim, Myung Oak; Jaffe, Sam

3.58

80 ratings by Goodreads

9780814414897: The New Korea: An Inside Look at South Korea's Economic Rise

Hardcover

ISBN 10: 0814414893 ISBN 13: 9780814414897

Publisher: Amacom Books, 2010

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In 1953, South Korea was rated by the U.N. as the poorest country in the world. Five decades later, it is the fifteenth largest economy. Now, South Korea's decisions on how to manage its society and its role as a modern democracy while also establishing its policy regarding reunification with North Korea will determine where the country will go in the next fifty years. "The New Korea" examines the political, economic, industrial, and societal aspects of Korea today. Will it continue to enjoy an economic boom through new industries while competing against low-wage countries like China and India? Will it return to its role as a stomping ground for other powers? And what should Westerners pay attention to in terms of investment and business opportunities? As South Korea enters the most critical phase of its journey, it is crucial that we understand the factors involving its decisions and evolution. "The New Korea" is a fascinating account of what is and may become the state of this import

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From the Inside Flap:

From the shattered, war-torn nation of the mid-twentieth century to the global economic powerhouse it is today, South Korea is an exemplar of meticulously planned growth and sheer communal effort—a dynamic and mature nation that has forged its own path to prosperity.

But where will that path lead in the future? As The New Korea explains, Korea stands at a crossroads, with challenges ahead. It continues to live in a tense stalemate with the North. It faces daunting competition from the cheap labor pools of China and India. And Korea veers between a safe, zero-growth mentality adopted by Japan and applying its mental toughness and capacity for hard work to continue charging forward.

The New Korea helps readers understand the key political, cultural, and business developments that have defined Korea in the past half century. Packed with colorful profiles of prominent figures in Korea’s success story, along with keen historical and cultural insights that inform the Korean perspective (and obsessions), The New Korea gives you a broad understanding of this prosperous yet often perplexing nation, including:

� How South Koreans view North Korea not as an aberration, but as a continuation of the Hermit Kingdom that Admiral John Rodgers encountered 150 years ago

� How the 1997/1998 financial crisis led to a broad restructuring of the economy and impacts Korea’s response to the current economic downturn

� How Korea navigates its fiercely competitive relationship with China and Japan, fighting to avoid Japan’s stagnation and to compete with China’s exploding white-collar industries

� How Hyundai—once a laughingstock of the auto industry—managed to recreate itself and win a coveted 2009 “North American Car of the Year Award”

� How the global gadget headquarters switched from Tokyo to Seoul with the emergence of giants like Samsung and LG, along with government support of next-generation software protocols and wireless technologies

� How extremely long workdays (the highest in the world) and intensely rigorous educational standards (the highest in the world) have created a formidable workforce—and a stressful workplace

� How a weak environmental record, excessive centralized planning, closed social systems, and political unrest hamper future progress—and whether Korea can shed the final vestiges of its Hermit Kingdom mind-set and meet the challenges ahead

With the 15th largest economy in the world, Korea is a serious competitor and a fertile, yet complex, ground for pursuing investment and business opportunities. The New Korea opens a window on this dynamic nation, exploring the forces that drive it to succeed, as well as its strengths, weaknesses, perspectives, and potential.

Myung Oak Kim was born in Seoul, South Korea. She worked as an investigative reporter for 15 years, most recently at the Rocky Mountain News in Colorado and the Philadelphia Daily News. She currently works as a communications manager for Colorado Governor Bill Ritter, Jr.

Sam Jaffe is a senior research analyst with IDC Energy Insights, specializing in renewable energy. He worked as a magazine journalist for more than 15 years, with work that has appeared in The New Republic, BusinessWeek, and Scientific American. He is coauthor of Jewish Wisdom for Business Success.

From the Back Cover:

A fascinating look at South Korea’s miraculous path from postwar rubble to affluence and influence.

Once an impoverished nation destroyed by war, South Korea has emerged as a major technology innovator and manufacturing powerhouse, with the world’s 15th largest economy. Once an insular “Hermit Nation,” it has opened itself to capitalism, democracy, and an emergent multiculturalism—all forces that have driven its growth and prosperity.

Yet the nation maintains a distinctly Korean perspective, including unique work habits, cultural obsessions, and tangled relationships—with its oppressive northern half, its competitors China and Japan, and its former protector, the United States—that make it difficult to navigate for outsiders. The New Korea provides probing insights into the diverse historical, political, cultural, and industrial forces that have helped define Korea in the past half century, and looks at the challenges ahead, as Korea faces new competitors and obstacles to growth.

Can Korea compete with low-wage countries like China and India? Will it mimic Japan’s safe, zero-growth economy? Will its closed social structures and government involvement in every step of technological development prevent it from continuing on a path of dynamic growth? And what should Westerners pay attention to in terms of investments, markets, and partnerships? The New Korea answers these and many other questions, as it explores Korea’s remarkable evolution, its complex challenges, and its potential impact on international business.

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