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Financial Crisis and Social Security: The Paradox of the Republic of Korea
Author(s) -
Shin DongMyeon
Publication year - 2000
Publication title -
international social security review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.349
H-Index - 28
eISSN - 1468-246X
pISSN - 0020-871X
DOI - 10.1111/1468-246x.00079
Subject(s) - social security , alliance , the republic , financial crisis , state (computer science) , welfare state , welfare , social protection , social welfare , social change , political science , economics , economic system , business , finance , economic policy , political economy , economic growth , market economy , politics , macroeconomics , philosophy , theology , algorithm , computer science , law
This paper seeks to answer the questions why and how the social security system in the Republic of Korea has expanded in the wake of the financial crisis. The author first reviews the characteristics of the Korean welfare system before turning to the social effects of the financial crisis, then examining the resultant changes to the social security system and highlighting the driving forces behind them. The paper argues that the development of the system can be mainly attributed to the change of policy networks from a symbiotic alliance between the State and business to a tripartite corporatismand growing social demands for social welfare.