Abstract
Abstract Underlying the current process of industrial restructuring in Korea is the weakening of the social and political comerstones of Korea's “miracle” economy: low wages maintained through labor market segmentation and suppression of labor movements, state leverage over the chaebol and labor, the containment of the middle class through a state-of-war mentality, and the decentralization of industry away from the capital city through the creation of countermagnets and growth poles. Korea's success in generating its own version of a post-fordist regime of accumulation will depend as much on changes in social and political institutions as it will on pursuing an industrial path of flexible specialization.
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