Industrial Challenges and Economic Reforms in South Korea beyond Financial Crisis

摘要

South Korea attracted considerable attention from both developing countries and developed countries for its significant industrialization performance and rapid human development prior to the 1997 financial crisis. It deeply impressed the world once again with its rapid recovery from the financial crisis. During the post-crisis period,a series of new challenges confront Korea and a new set of economic and social reforms need to be implemented. To achieve a competitive,flexible and dynamic economy is the main target of the industrial strategy in Korea during the transition to the knowledge-based economy. Therefore,the article proposes that Korea should harness new technology effectively,construct an efficient innovation system,modify the role of the state,adjust industrial policy,further integrate into globalization,and continuously implement trade and financial liberalization under a sound regulation and supervision framework.