Purpose – The literature on the growth and regulations pertaining to private security has been largely confined to western countries, with very little published on other jurisdictions including South Korea. The purpose of this paper is to provide a general account of the development of the South Korean industry and an assessment of regulation, covering the period from 1950 to the present day, and to explore areas of possible improvement in regulation. Design/methodology/approach – A research synthesis method was utilised to identify and integrate qualitative materials on turning points and regulatory changes, with the addition of a gap analysis based on established concepts of best practice in industry regulation. Findings – The security industry in South Korea has grown exponentially, worth over $2.7 billion per annum. Notwithstanding this, regulation evolved through piecemeal rather than comprehensive changes. The problem is similar to those found in many other countries. However, in South Korea, over-reliance on market mechanisms of regulation, combined with the government’s lukewarm stance on stimulating the non-public security sector, means that there are inadequate guarantees of baseline competence and integrity. Practical implications – The study demonstrates the need for governments to be more proactive and consultative in regulating the burgeoning security industry, and move away from ad hoc responses to industry problems. Regulation should be comprehensive in covering all relevant operational aspects of security work that are reflective of a growth profile. Regulatory agencies should actively explore training programmes linked to career path development and professionalisation. Execution of regulatory enforcement should be independent from political or third-party influence. Regulators should be innovative in applying and evaluating research-based regulatory strategies. Originality/value – The study provides a comprehensive overview of the South Korean security industry and regulatory issues, adding to a more international understanding of regulatory challenges in security.
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