Hyung-Koo Lee previously served as Minister of Labor in the South Korean government. He also served as Governor of the Korea Development Bank and as Vice Minister at the Ministry of Construction, the Ministry of Finance, and the Economic Planning Board.

• Foreword by Patrick Yeoh Foreword by Charles S. Sanford, Jr. Introduction 1. Changing Society Changing Values and the Emergence of a New EthicsTechnological Innovation and the Industrial StructureChanges in the Input-Output Structure 2. The Development Process The Dawn of Economic Development (1961)Full-Fledged Economic Development (1962-1971)Achieving Self-Reliance (1972-1979)Implementation of an Economic Stabilization Policy (1980-1987)Korean Economy in Transition (1988-1994) 3. Economic Policy in a Time of Transition The Engine of a Growth-Oriented Economic PolicyStimulation of the Economy and Investment PolicyThe Pursuit of Economic StabilityIndustrial Policies Amid Structural ChangesThe New Industrial PolicyTrade Policies in the Global AgeThe Corporate Financial Situation and Financial Policy 4. Democratization of the Korean Economy and Implementation of Nord-Politik Policy Reform for DemocratizationThe Korean Bubble EconomyNorthern Policy and North-South Korean Economic Cooperation 5. A Major Turnaround in Economic Policy The Korean Approach to Becoming an Industrialized NationAttitudes in an Era of Unlimited CompetitionRevision of Policies for Economic Justice 6. A New Paradigm for the Changing Era Introduction of New Thought in Administration and BureaucracyA Blueprint for Sharpening the Competitive Edge of Korean BusinessesThe Advancement of the Financial SectorRedefining the Roles of the Government and Finance 7. The Economic Policy of a Reunified Korea Lessons from the German ReunificationEconomic Cooperation Between the Two Koreas 8. A Vision for the Korean Economy and the Attitude of Koreans in the Twenty-First Century The Historical Meaning of the Twenty-First Century for KoreaPossible Scenarios for the Korean EconomyMiddle- and Long-Term Prospects for the Korean EconomyThe Attitude of Key Economic Players Toward the Twenty-First Century Appendix 1. Principal Economic Indicators Appendix 2. Gross National Product by Industry Appendix 3. Expenditure on Gross Domestic Product Appendix 4. Population and Employment Appendix 5. Structure of Manufacturing Industry Appendix 6. Investment Resources Appendix 7. Scale of Financial Savings Appendix 8. Major Currency Index Appendix 9. Consolidated Central Government Financing Appendix 10. Tax Receipts Appendix 11. Balance of Payments Appendix 12. Structure of Commodity Exports Appendix 13. Imports by Type and Financial Resources Bibliography Index

"The Korean Economy is a comprehensive diagnosis of the unique path of South Korea's economic development. Mr. Hyung-Koo Lee is exceptionally qualified to address this complex and exciting subject. He has brought his extensive public-service experience and strong intellect to the topic. Before his previous appointment as Minister of Labor for the South Korean government, Mr. Lee served as Governor of the Korea Development Bank, Vice Minister at the Ministry of Construction, the Ministry of Finance, and the Economic Planning Board. As such, he has been deeply engaged in South Korea's economic miracle in recent decades." — Patrick Yeoh, President, DBS Bank