Conclusion

Abstract

This chapter looks at the development of Gangnam, and reviews how real estate speculation has become a prominent secondary mode of wealth accumulation for the upper classes. It suggests that the globalization of Korean popular culture has resulted in local impacts that interact with changes in urban governance and the urban political economy. Conversely, the prospects for culture-associated urban policy trends in Korea hinge on the future performance of Korean popular culture in the global market. The chapter then shifts to assess a critical incident that adversely affected the constant overseas demand for Korean entertainment and steady stream of foreign tourists — that is, the U.S. government's deployment of the U.S. Terminal High Altitude Area Defense (THAAD) missile system. It addresses the aftermath of THAAD, then shows how local policies can be rendered impotent in the face of national disputes and policies. The chapter concludes by illustrating the differences in urban practices between Korean municipalities and those in Japan and China, which are also experiencing decentralization these days.