Examines Korea's strategic engagement with Asia as a response to the limits of the home market. Access to new markets and resources in Asia through exports and foreign investment are critical. Additionally, with Korea's ongoing demographic crisis, its engagement with foreign workers is also inevitable. This explores how Korea is responding through regional integration, strategic industrial upgrading of exports, foreign markets and resources, and coping with migrants, including unskilled workers, students, and professionals.
After-Development Dynamics addresses the question of what a country does after it has attained prosperity. South Korea offers an interesting but now familiar case of quickly moving out of poverty through export-oriented industrialization, education, and technological catch-up to join the OECD. Since prosperity means a shrinking home market as well as demographic shifts, this volume addresses Korea's strategic engagement with a dynamic Asian region. It presents interrelated discussions of trade, investment, innovation efforts, and migration issues in an increasingly competitive world through an analysis of regionalism, new growth sectors, the transfer of Korean business practices to Asia, and coping with foreign migrants. To roundup the discussion, the volume presents some of the pressing domestic challenges and ways to mitigate them as a second response to tackling Korea's prosperity.