Midterm Assay: After reading The Economist’s special report on Korea 2020

1.     How is the Korean society changing?

Recently, South Korea has seen overall changes across various fields. Attempts to revolution are notable along with interesting phenomena in the areas of culture, society, economy, unification diplomacy and politics.

Korea's cultural influence on the world has grown. Now, the Korean boy band BTS, which is famous not only in Korea but also in the world, is leading the way. They feature lyrics that criticize society and console teenagers. Their success was assured by well-organized choreography and high-quality music, as well as lyrics completed with a unique approach, such as including psychoanalysis and Greek mythology. While BTS sold out concerts around the world and topped various music charts, experts abroad are surprised that their success has been made irrelevant to the government's plan. Starting with BTS, Korea's cultural development will continue in the future.

Korea's social changes are also noteworthy especially the development of feminism. In recent years, enterprising female figures have frequently appeared in media contents, and such women's behavior can be easily found even in reality. In contrast to the past, many Korean women are much more active in voicing opposition to the damage caused by gender inequality and to the male-dominated society. Korean activists are largely characterized by the exclusion of makeup and make-up, which have been structurally forced on only women. They support the MeToo movement, which has caused a stir around the world, and are striving to break down the traditional family values, wrong and insufficient sex education, gender wage gaps in the labor market and restrictions on women's promotion.

In the past, Korea achieved rapid economic growth based on chaebol-led growth models. As a result of the government's investment centered on conglomerates and a minority of key manufacturing industries, Korean economy has become highly dependent on exports. Recently, however, Korea has been paying attention to the new economic model. For the sake of long-term benefits, there is a trend to break away from chaebol dependence and seek economic diversification. They are encouraging startups to start their own businesses, increasing investment for the growth of small and medium-sized enterprises. With the government's support, investors have also seen a significant increase in venture capital investment in local startups in recent years.

Factors that have long caused the Korean Peninsula to live with the fear of war as a product of the Cold War also showed gradual changes. After the Panmunjom Declaration that South Korean president Moon Jae-in and North Korean leader Kim Jong-Un announced, it has pledged to strengthen economic cooperation and boost cultural exchanges between the two sides and can expect to be free from the threat of war. In North Korea with the emergence of Donju, a North Korean-style conglomerate, they are facing an economic change of marketization. At the same time as the North's opening, the South Korean government is devising a new northern policy to plan for gradual progress.

2.     Is it changing for the better?

The development of Korean culture on the global stage exerts positive influence. BTS has launched a joint campaign with UNICEF since 2017 and is sending a message to the public to love themselves. They are giving comfort to teenagers who are suffering from a withered life and encouraging them. Korea's cultural growth is helping young generations around the world regain peace of mind. It also promotes the diversification of the world by exporting K-pop and other Korean films and dramas to various regions. It is an opportunity to experience the lifestyle of a country that has never been visited, thus contributing to the wider understanding of people's culture.

Women's enterprising changes are meaningful in themselves. Korean women act more aggressively because they quickly publicize the usual discrimination that the majority of Korean women face. If the discussion is facilitated, it can minimize victims of misogyny and gender discrimination. Although there are opposing arguments that Korean feminist claims are overly radical and rather cause reverse discrimination, ultimately, they are taking the lead in solving problems that directly affect women's lives.

If the country's new economic growth model is successfully implemented, it means the country will be able to overcome its current limitations. Korea's current trade-dependent economic situation will be excessively affected by overseas economy. If the government helps small and medium-sized enterprises grow and makes structural changes, it will provide solutions to problems facing Korea, such as aging. But now that COVID-19 has spread, Korea, like any other country in the world, is facing an economic crisis. The effect has slowed the progress of economic structural changes.

In the field of reunification and diplomacy, the government is also seeking far more peaceful ways than in the past. Although there are still many obstacles, Korea has gradually been free from security risks. If reunification is achieved, it will certainly benefit the Korean Peninsula in many ways, including economy, culture, security and globalization. But the problem is what method to adopt. The political systems of South and North Korea are so different that neither side can easily give up their systems. This is a matter that needs to be discussed in depth for much longer. Although it has not yet reached the stage to officially discuss it, Korea is moving forward step by step.

Despite the revision of the election law, unfortunately, it has become difficult for young politicians to enter parliament in the political arena. In order to expand the influence of the minor parties, the parliamentary elections were held by adopting a quasi-linked proportional representation system, but the two major parties created a party exclusively for proportional representation and took advantage of the revised election law, which eventually led to more parliamentary seats. The emergence of a new politician was only realized by launching under a huge political party. Rather, the elections have strengthened the position of existing state power, and it was impossible to change generations.

3.     How will those changes affect you personally?

An increase in Korea's cultural exports will lead to the revitalization of the Korean cultural industry, and a higher level of results will be made. As a result, I will be able to enjoy various cultural contents. Social changes in Korea, such as feminism, ultimately help me escape the irrationalities I might suffer as a woman. And for that goal, it affected me to act in solidarity with them. Economic changes will increase the number of jobs I can work for, and I will be given an environment where I can challenge startups whenever I want. A positive change in unification diplomacy will allow me to challenge to a world I haven't experienced. Finally, a generational shift in politics will make my life more prosperous by introducing politicians who can speak for me more clearly.