South Korea’s Coming Era of Stagnation
Much of South Korea’s modern history is a record of a spectacular economic and social success. The country rose from the ashes of the Korean War to become an industrial powerhouse. It successfully transitioned to liberal democracy. Names like Hyundai, LG, and Samsung are shorthand for its technological dominance, and K-pop has become a global cultural phenomenon.
But the impressive façade is showing cracks. Long before the pandemic and the current inflation spike, the country’s economy was sputtering and socioeconomic fractures were deepening. It is no accident that another of its recent breakout cultural hits was Parasite, Bong Joon-ho’s dark-humored thriller on the inequities of modern South Korean society: The gap between the country’s rich and poor is now among the widest in industrial countries.… Seguir leyendo »