The South Korean Development Model

Abstract

This chapter examines Korea’s development experience and the extent to which it comprises a coherent development model. The chapter sets forth three key features of Korea’s of deliberate and planned development: (a) state-led economic development; (b) social development and capability enhancement; and (c) strategic use of aid for development. It then highlights various inconsistencies and ambiguities of the Korean development story and cautions against promoting it as a one-size-fits-all model. That said, the chapter represents the evolution of the Korean developmental state—from its earlier authoritarian, neo-mercantilist iteration to its current democratic and globalized model—as a testament to the fact that development is a contextual, adaptive process. Korea owes its success to its flexibility and openness to a range of development approaches. In this regard, the chapter argues that the Korean development experience does indeed offer useful, adaptable development options, and that Korea can play a constructive, balanced, and bridging role in development and development cooperation.