Challenging the Validity of the South Korean Development Model : A Social Aspect of SustainabilityPerspective

After the severe devastation from the Korean War between 1950~1953, SouthKorea achieved a complete makeover. The country with the 12th largest economy inthe world commemorated its success by hosting the G20 summit in 2010 for thefirst time in Asia. Korea is the only country switched its status from aninternational aid recipient to a donor. The country is known to have a highpotential to grow even further with its emerging economy.Many developing countries in Africa, South East Asia and Latin Americadeclared that they adopted or plan to adopt the Korean development model which isgovernment-driven industrialization nurturing exports. However behind thedazzling skyscrapers, the country is reported to be suffering from a high suiciderate, rising temporary employment, disparity, value crisis and increasing antisocialbehaviours.Based on an analysis of indices, the country is diagnosed to be in anomie. Thesociety is going through moral breakdown due to commodification introducedduring the rapid industrialization. Given that society is shaped through a constantreconciliation between freedom and security, Korea has sacrificed its security byletting market freedom override politics, which has to function as a soundmoderator, to the point it cannot be controlled.This paper argues that ensuring the primacy of politics to rein in marketfreedom is an urgent task. Market needs to be repositioned under society in pursuitof restoring the balance between freedom and security which should work as thebasis of the every development agenda. Sound governance and transparency asprerequisites, many countries should establish those before starting to implement adevelopment plan. Restoring community is heightened both as a measure ofprevention and cure that it can be started at the individual level.