Abstract

Article 119 of the Korean Constitution should be interpreted in the understanding of Article 84 of the 1948 Korean Constitution, which first envisioned the economic order of our Constitution. The economic order of the 1948 Constitution was a call for the realization of social justice in the economic sphere, and the pursuit of economic democracy with political democracy. The 1948 Constitution had concreted a system for realizing economic democracy with social justice through its preamble, general provisions, fundamental rights protection, economic provisions including Article 84. Though Korean Constitution had made some changes to the degree and scope of its realization, but the Constitution's conception of economic order have not fundamentally altered. Article 84 of the 1948 Constitution placed economic equality, the realization of social justice, and state regulation and coordination for economic development at its core, and made economic freedom and economic equality two equal and complementary pillars. From this perspective, Article 119(1) of the Korean Constitution confirmed the economic freedom that is already premised, and Article 119(2) is a request for regulation and adjustment for the pursuit of social justice, and Article 119(1) and Article 119(2) need to be understood as two axes that function equally.

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