Social trust: its concepts, determinants, roles, and raising ways

Recognizing the seriously low social trust in Korea, Chapter 1 discusses the concepts, types, determinants, roles of social trust via a literature review. From this review, it develops a working definition of social trust and the conceptual framework underlying this book, and provides the basis for public policy proposals to raise social trust. This book investigates the two constituents of social trust (interpersonal and institutional trust) separately, acknowledging their complementary relationship. This chapter discusses the positive relationship between social trust and economic development with supporting empirical evidence. They influence each other in a way of a virtuous- or vicious- circle. In addition, social trust is self-reinforcing, and low social trust induces people to lower their trust in others. Once low trust continues over an extended period, it becomes difficult to rebuild trust in society. A key point for policy makers is that they should pay consistent and adequate attention to emerging social issues as well as social trust.