Bush House (SE) 1.01, 15:00-17:00

Under President Moon, Korea has pursued an income-driven policy that aims to create a virtuous cycle of increasing household income and spending. In contrast to conventional economic policy, this income-led growth through labour-friendly reforms and has led to a substantial increase in the minimum wage. However, it has faced increasing criticism from orthodox economists. Is income-led growth a promising alternative to orthodox policies?

 

Kang-Kook Lee is Professor at Ritsumeikan University, Japan.  He is currently also Visiting Scholar at Cambridge University.

Soohyun Lee is Lecturer in Korean and East Asian Political Economy at King’s College London and is advising the Korean government on welfare state reform.

Engelbert Stockhammer is Professor of International Political Economy at King’s College London and has co-edited Wage-led Growth: An Equitable Strategy for Economic Recovery.