W-Extra. “Korea's poverty is relative poverty.” / Kim Seon Woo

W-Extra. “Korea's poverty is relative poverty.” / Kim Seon Woo

Summary

 To fight poverty, it is necessary for developing countries – where a majority of the poor live – to strive for economic development. What makes this task harder is that economic development does not necessarily reduce poverty or income inequality. The challenge here is to combine poverty reduction and economic growth. With this in mind, this chapter examines the Republic of Korea’s development strategy, which transformed one of Asia’s poorest nations in the 1950s into an industrialized country with low poverty rates and reserves of high human capital.

Interesting Point.

 I think Korean poverty is relative poverty rather than absolute poverty. Because, since the IMF bailout, Korea's negative opinion that quality of life is low has been strengthened, and I think that this has been the opportunity for Korean citizens to express their identity self-help.

Discussion.

 What should I do for Korea's great transformation?

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