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Korea: Economic Development, Social Security and Productive Welfare

In: Social Security, the Economy and Development

Author

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  • Joon Yong Jo

Abstract

Korea is one of Asia’s Newly Industrialized Countries (NIC). It emerged from the devastation after the Korean War in the early 1950s to become the world’s 11th largest economy and a member of the Organization for Economic Cooperation and Development (OECD). Between the early 1960s and the 1990s, Korea’s authoritarian military governments placed top priority on economic development and export-oriented industrialization. In those days, social security was subordinated to the country’s pro-growth economic policy. Government spending on social security was minimal and welfare depended on economic growth, full employment and traditional family ties.

Suggested Citation

  • Joon Yong Jo, 2008. "Korea: Economic Development, Social Security and Productive Welfare," Palgrave Macmillan Books, in: James Midgley & Kwong-leung Tang (ed.), Social Security, the Economy and Development, chapter 7, pages 187-209, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-58219-4_8
    DOI: 10.1057/9780230582194_8
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    Cited by:

    1. Taehyun Ahn & Chung Gu Chee & Seonghoon Kim, 2021. "The Evolution of Income Risk and Consumption Insurance in South Korea over the Last Two Decades," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 83(2), pages 328-351, April.

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