Development strategy in Korea reexamined: an interventionist perspective

This article reexamines the controversial issue of development strategy in Korea. Two conflicting views on the Korean development experience are introduced. The key questions discussed herein include the following: Which perspective outperforms the other in its explanatory power? If government did play a pivotal role in Korea’s development, what exactly are the essential features of that role? This article confirms the interventionist notion that the successful economic development of Korea was mainly rooted in the aggressive role of government. Korean policy has strategically changed in direction but not in degree. Carefully sequenced “target shifting” and “constant upgrading” by government were the ultimate sources of Korea’s outstanding economic performance in the early stages of development.