Korea after the Crash: The Politics of Economic Recovery

Korea after the Crash analyses the nature of South Korea’s political economy on the eve of, during and in the aftermath of the 1997 financial crisis. Arguing that political factors are integral to the dynamics of this traumatic period for the economy and people of South Korea, Brian Bridges discusses why the economy collapsed and how well it is recovering. He considers the multiple challenges faced by Kim Dae-jung, elected president in the midst of the crisis, of restoring the economy, managing an unusual political cohabitation and coping with an unpredictable northern neighbour. Bridges closely examines the president’s handling of all these challenges, following his progress through to the 2000 elections and the historic North-South Summit. The book charts the struggle to achieve both economic reform and a ‘second economic miracle’, and concludes that, despite promising an end to the ‘Korea Inc.’ of old, Kim Dae-jung has, ironically , had to resort to old methods in order to push forward his agenda and accomplish change. Bridges’ lucid and thorough assessment of this crucial period is essential reading for all students and scholars of South Korean politics and economic