Table of Contents

Reshaping Regional Policy

Reshaping Regional Policy

Edited by Harry W. Richardson, Chang-Hee Christine Bae and Sang-Chuel Choe

Originally initiated by the Presidential Committee on Regional Development in South Korea, this wide-ranging volume investigates the new directions in regional development policy taking shape around the world. In addition to contributions with individual emphasis on regional policy in Korea, the book compares, contrasts and extends regional policy thought in the European Union and other Asian countries.

Chapter 18: Long-term Strategies for Regional Development Policies in Korea

Sam Ock Park

Subjects: economics and finance, regional economics, geography, economic geography, politics and public policy, public policy, urban and regional studies, regional economics, regional studies

Extract

Sam Ock Park INTRODUCTION Since the 1980s, global economic spaces have been reshaped dramatically. Economic space is considered in terms of the relationship and networks created among different economic actors such as nation-states, firms, institutions, organizations, local authorities, trade unions and consumers, among others. The global economic center of gravity shifted from the Atlantic Rim to the Pacific Rim during the last decade. Knowledge creation in relation to the economic growth and international trade as measured by patents by country has significantly changed during the last decade (Park 2009b). Under the reshaping of economic spaces, uneven development over the space is persistent, and the spatial disparity is not likely to be eliminated or even substantially reduced. These dynamics of economic spaces have evolved in the global society with the progress of the global megatrends such as globalization, the knowledge-based economy, the information society and the service world (Bryson et al. 2004; Park 2009b; Regional Studies 2008). The four global megatrends of change are not independent or separate from each other. Rather, they are interrelated. Globalization and the information society are related to dispersion and long-distance networks; while the knowledge-based economy and the service world are linked with agglomeration and the localized networks. Because of the contrasting spatial trends that govern the economic spaces in the real world, the forces and processes organizing the economic activities in the space are complex and dynamic. Accordingly, economic spaces cannot be organized by only a single criterion of economic rationality. The processes of shaping...

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