Ks. Kim et N. Gallent, Industrial land planning and development in South Korea - Current problemsand future directions, THIRD WOR P, 22(3), 2000, pp. 289-311
The recent South Korean economic crisis cannot be attributed to any single
sphere of public policy or blamed simply on domestic processes. Indeed, rec
ent global market fluctuations reveal that Korea's difficulties are merely
a piece of a larger jigsaw. That: said, the regulatory environment establis
hed by the central government has accentuated these difficulties. In partic
ular, restrictions governing land development and certain aspects of bankin
g have impeded free investment and undermined profitability. This paper is
concerned with the way the regulation of industrial land use has contribute
d to the crisis and with the scope for minimising further economic decline
through a programme of rationalisation and deregulation. A review of curren
t land development policy, focusing on industrial parks, and the existing l
egislative framework is presented. Finally, we review the measures that the
Korean government is currently considering and assess how they may allevia
te the economic pressure resulting from the recent crisis.