South Korea’s Coming Era of Stagnation
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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
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