Between Neoliberalism and Democracy : The Transformation of the Developmental State in South Korea

Abstract

This study addresses the transformation of the South Korean developmental state since the early 1990s in relation to globalization and neoliberal restructuring. First, several key analytical-concepts are discussed for the study. Next, we examine two recent civilian- governments' major policies that have accelerated the transformation. Then, we spell out the changes of three major institutional actors in the developmental-state framework, i.e., the state, banks, and chaebols, which have resulted from the aforementioned conditions and policies. In conclusion, we argue that an alternative path should be followed instead of the current path of neoliberal transformation in South Korea to achieve a form of substantively-democratic development.