Case & Working Paper
| Paper Number | KCB-WP-2025-003 |
|---|---|
| Title | Concerted Institutional Forces for Korea’s Economic Development |
| Title(Other) | |
| Author | Bowon Kim |
| Publisher | KAIST College of Business |
| Abstract | This paper develops a framework to explain South Korea’s remarkable economic
transformation. Korea was one of the world’s poorest nations, with a GDP per capita below $70 in 1953. By 2025, however, it will have become one of the world’s wealthiest economies, with a GDP per capita approaching over $37,000. We introduce the Concerted Institutional Forces Model (CIFM), which highlights the dynamic interplay of institutional, historical, cultural, and geopolitical factors?and the importance of their balanced, timely interactions? in driving Korea’s remarkable economic transformation. Korea’s experience exemplifies the critical role of concerted institutional forces in dynamically navigating successive technology innovations to achieve rapid growth and resilient development. |
| Full-Text | * Full-Text 다운로드는 경영대학 학생에게만 제공되고 있습니다. |
Contact : Kim, HaengRan ( hrkim@business.kaist.ac.kr )
