The Korean Economy: Perspectives for the 21st Century

From the publisher’s website:

Lee, former South Korean government Minister of Labor for the South Korean government, discusses the country’s economic development from 1945-1994 and the public policies that shaped it, arguing that if South Korea is to become a major economic power, the government should withdraw from the economic front line.

“The Korean Economy is a comprehensive diagnosis of the unique path of South Korea’s economic development. Mr. Hyung-Koo Lee is exceptionally qualified to address this complex and exciting subject. He has brought his extensive public-service experience and strong intellect to the topic. Before his previous appointment as Minister of Labor for the South Korean government, Mr. Lee has served as Governor of the Korea Development Bank, Vice Minister at the Ministry of Construction, the Ministry of Finance, and the Economic Planning Board. As such, he has been deeply engaged in South Korea’s economic miracle in recent decades.” — Patrick Yeoh, President, DBS Bank

In The Korean Economy, Hyung-Koo Lee, formerly South Korea’s Minister of Labor, chronicles South Korea’s economic development from 1945-1994 and the public policies that have shaped that development. In the past, the South Korean government supported protectionist policies. Mr. Lee, arguing that these policies no longer serve the long-term interest of South Korea’s economy, supports the allowance of greater private-sector initiatives, a fundamental paradigm shift in South Korea’s economic policy. He argues that if South Korea is to become a major economic power, the government should withdraw from the economic front line. He also provides a succinct analysis of the vast economic potential of a reunified Korea and discusses the pros and cons of two alternative scenarios for the South Korean economy.

Hyung-Koo Lee previously served as Minister of Labor in the South Korean government. He has also served as Governor of the Korea Development Bank and as Vice Minister at the Ministry of Construction, the Ministry of Finance, and the Economic Planning Board.