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Rethinking South Korea’s Shared Growth Policy for Cooperative Partnership

Author

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  • Jongwon Shin

    (Korea Institute for Industrial Economics and Trade)

Abstract

South Korea’s shared growth policy emerged as a response to structural imbalances between large firms and small and medium-sized enterprises (SMEs) embedded in the country’s industrialization model. While the policy initially aimed to correct unfair trade practices and mitigate economic polarization, its early implementation was overly paternalistic, characterized by heavy-handed government interventions. Today, digital transformation driven by artificial intelligence (AI), economic security, supply chain restructuring, and expanding ESG requirements demand a fundamental shift in policy toward an ecosystem-based cooperation model to strengthen innovation, build resilience, and enhance sustainable competitiveness across the country’s industrial ecosystem.

Suggested Citation

  • Jongwon Shin, 2026. "Rethinking South Korea’s Shared Growth Policy for Cooperative Partnership," Industrial Economic Review 022846, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kieter:022846
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    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D30 - Microeconomics - - Distribution - - - General
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection

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