Stuck Between a Rock and a Hard Place: Restoring Economic Growth in South Korea by Building a Domestic Green Technology Industry?
St. John’s University, USA
ISC Paris School of Management, France
University of Duisburg-Essen, Germany
Volume 8: 2013, pp. 5-26; ABSTRACT
South Korea has experienced astounding economic growth since 1960 and today ranks 13th (GDP-based) among the economically strongest countries in the world. However, growth rates have declined and the economy has levelled off at 3-4 per cent GDP growth since 2010. Korea’s dilemma is that it is stuck in the middle between China in terms of prices and scale, and Japan with respect to innovation and high technology. By developing its green energy sector, Korea aims to occupy a world-leading position in the environmentally friendly energy industry. Given the economic environment, policies and actors, will the necessary measures taken lead to sustained economic growth?