The Developmental Sources of South Korean Neoliberalism

Abstract

How do South Korea’s developmental legacies influence its contemporary political economy? The discourse surrounding this question has tended to diverge over the extent to which South Korea’s state-led developmental model has been supplanted by a market-led, neoliberal mode of political-economic organization. Though this debate has indeed fostered many important individual contributions, it has also yielded a muddled and ambiguous theoretical landscape. To clarify this cluttered terrain, this paper draws from recent advances in the study of neoliberalism to establish critical points of consonance between statist perspectives on Korean development and neoliberalism. To this end, it identifies key threads of continuity binding South Korea’s developmental past with its neoliberal present. The paper finds that critical aspects of the developmental state’s interaction with society, from coercion to ideological suasion, furnished elemental building blocks to those actively constructing a South Korean neoliberalism. Thus, exploring these historical contours produces a fresh means for apprehending the interactions of enduring statist developmental legacies with contemporary neoliberal reforms, both theoretically and empirically. As such, this study yields an improved set of conceptual tools for grasping the complex empirical phenomena shaping the interplay of neoliberalism, developmentalism, and democracy within contemporary South Korea.