The Political Economy of Foreign Direct Investment in Korea: Evolution, Dynamics, and Contradictions

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You-il Lee (University of South Australia, Australia) Richard Lee (University of South Australia, Australia)

The Political Economy of Foreign Direct Investment in Korea

Evolution, Dynamics, and Contradictions

You-il Lee (University of South Australia, Australia), Richard Lee (University of South Australia, Australia), Yoon-Jong Jang (Korea Development Institute)

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English

Routledge
15 August 2025

Regional studies; Politics & government; Political economy; Investment & securities

Series: Routledge Frontiers of Political Economy

One of the most spectacular phenomena in the South Korean political economy has been the remarkable escalation of international capital investment, particularly inward foreign direct investment (FDI). This book provides an in-depth look at the evolution of FDI in Korea, from the late 1990s to the present day.

Charting Korea’s transition from state-led capitalism to a more liberalized market, this book assesses the complex interplay between government policy, foreign capital inflows, and multinational corporations (MNCs). It analyzes the key economic policies of the past as well as more recent measures by the Moon Jae-in and Yoon Suk Yeol administrations. The book then conducts an analysis of the socio-economic, cultural, and political dynamics that shape strategies of MNCs today. The book draws on 36 interviews with CEOs of foreign companies operating in Korea to seek their insights into the realities of doing business in Korea. It closes by highlighting the current challenges Korea faces today in integrating into the international economy and suggests solutions for sustaining its economic growth.

This book will appeal to scholars of political economy, Korean studies, and economic development. It will also interest business leaders and policymakers seeking a deeper understanding of insights into Korea’s economic climate.

By: You-il Lee (University of South Australia Australia), Richard Lee (University of South Australia, Australia), Yoon-Jong Jang (Korea Development Institute)
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm,
Weight: 480g
ISBN: 9780367365929
ISBN 10: 0367365928
Series: Routledge Frontiers of Political Economy
Pages: 160
Publication Date: 15 August 2025
Audience: College/higher education , Further / Higher Education
Format: Hardback
Publisher's Status: Active

Illustrations Authors Preface Acknowledgements Abbreviations 1. Introduction: South Korea at a Glance 2. Political Economy of Korea: Moon Jae-in to Yoon Seok Yeol 3. Evolution of Inward Foreign Direct Investment in Korea 4. Korean Market Environment for International Business 5. A Multi-Dimensional FDI Framework for MNCs’ R&D Centre Investments 6. Discussion and Suggestions for FDI in Korea 7. Concluding Observations Bibliography Index

You-il Lee is a political economist and Dean of Programs (Management and Marketing) at the University of South Australia Business. His research explores globalization and regionalism's socio-economic and political impacts. Richard Lee is Professor of Marketing at the University of South Australia. Prior to joining the university in 2007, Richard spent 15 years managing marketing functions with MNCs in Asia. Yoon-Jong Jang is Visiting Senior Fellow at the Korea Development Institute. His research focuses on Korean industry globalization and AI-driven transformation.