Professor publishes 'K-Speed: The Source of Korean Competitiveness'

Lim Jung-duk / Courtesy of Lim Jung-duk

A senior economist has published a book in English to share insights into how Korea’s fast-paced culture led to the rapid economic and democratic development of the country.

In his book, “K-Speed: The Source of Korean Competitiveness” published by the U.K.’s Ethics International Press, Lim Jung-duk, professor emeritus at Pusan National University, discusses factors that propelled Korea to become one of the world’s most advanced countries in just half a century since the Korean War (1950-53).

“Speed is the essence of Korea’s competitiveness in innovation and is the driver of the country’s remarkable growth capabilities, which are recognized around the world,” he said.

The rapid pace of Korea's economic, industrial and cultural developments has led to the worldwide success of the country’s key manufacturers, a result underpinned by the simultaneous growth of industrialization and democratization over the past decades.

“Industrialization and democratization require a significant amount of time to help any country establish stable political and economic institutions. Korea was able to achieve a remarkable level of completeness in both.”

Most important for developing countries looking to emulate Korea, Lim added, is that industrialization precedes democratization.

“Industrialization of a country does not always translate into political democratization in some countries, China being the perfect example. I explained this academically and empirically in the book.”

Korea's development, however, was not without drawbacks along the way, the details of which are elaborated on in the book.

“Of course, side effects should be monitored. But from this point on, I hope K-speed becomes synonymous with safety, honesty and reliability.”

Lim has written more than 15 books on topics including economics and regional development.

He said the book is primarily recommended to government, international agencies and nongovernmental organization officials as well as scholars and students of developing countries.