PERI Policy Series #3
On July 25, 2023, PERI published the third installment of PERI’s policy series, “G3 Korea: Finding the Way” following the first installment, “Fooled by Politics, Crying Over Taxes” and the second, “Policy Evaluation Reform.”
In 2023, this year marks the 300th anniversary of Adam Smith’s birth, and in this book, we constructed the K-National Wealth Theory based on the basic ideology and theory of the National Wealth Theory, and shed light on the role of labor and capital in Korea’s journey to the G3 through political economy and international comparison.
This book is differentiated from existing books by presenting the following four things as evidence. In particular, we made a new attempt to make it possible to view related video materials through QR codes in the middle of the text, so that you can watch videos while reading the book.
1) Evidence and articles related to the facts at the time
2) Various relevant photos showing the facts
3) Supporting data such as statistics and government releases
4) QR codes for related videos
The book emphasizes that creative and enterprising genes run in the blood of the Korean people, who, thanks to the outstanding ability of their ancestors to overcome crises, have become the 10th largest economy in the world in the 21st century and have exerted tremendous global influence economically and culturally, such as the K-Series, “just a little further from here, we will become a G3 country.”
We are making a historical interpretation that we can become a G3 based on the long-lived dynastic state, the records of the Joseon Dynasty, Hangeul, and the achievements of King Sejong. This interpretation operates under the premise of a shift in consciousness that utilizes the strengths of our history and addresses its shortcomings, rather than dwelling on a sense of defeat from colonial history.”
In recent years, Korea has been able to establish itself as a world’s leading ICT powerhouse, a content powerhouse featuring K-POP, K-Food, and K-Game, and a sports powerhouse. This has been achieved by demonstrating our positive influence even in various social situations that foster distrust, confrontation, and conflict.
The book shows confidence that we can become a G3 nation when inclusion and harmony are firmly rooted in our markets, institutions, and in the hearts of our people. We are setting out the challenges to achieve this by maximizing the capabilities and opportunities we have today.
<PERI, Policy Evaluation Research Institute>
