Adapt, Fragment, Transform: Corporate Restructuring and System Reform in South Korea

South Korea remains a puzzle for political economists. The country has experienced phenomenal economic growth since the 1960s, but its upward trajectory has been repeatedly diverted by serious systemic crises, followed by spectacular recoveries. The recoveries are often the result of vigorous structural reforms that nonetheless retain many of South Korea's traditional economic institutions. How, then, can South Korea suffer from persistent systemic instability and yet prove so resilient? What remains the same and what changes? The contributors to this volume consider the South Korean economy in its larger political context. Moving beyond the easy dichotomies—equilibrium vs. disequilibrium and stability vs. instability—they describe a complex and surprisingly robust economic and political system. Further, they argue that neither systemic challenges nor political pressures alone determine South Korea's stability and capacity for change. Instead, it is distinct patterns of interaction that shape this system's characteristics, development, and evolution.

Byung-Kook Kim teaches party politics, methodology, and comparative political theories at Korea University. Prof. Kim was previously president of the Korea Foundation (2010–2012) and chancellor of the newly established Korea National Diplomatic Academy (2012–2013).

Jean C. Oi is the William Haas Professor on Chinese Politics in the department of political science and a Senior Fellow of the Freeman Spogli Institute for International Studies at Stanford University. She is the founding director of the Stanford China Program at the Walter H. Shorenstein Asia-Pacific Research Center. Professor Oi also is the founding Lee Shau Kee Director of the Stanford Center at Peking University.

Professor Eun Mee Kim is Dean of The Graduate School, Professor in the Graduate School of International Studies, Director of the Institute for Development and Human Security and Director of the Ewha Global Health Institute for Girls at Ewha Womans University.