International Encyclopedia of Revolution and Protest

Extract

In recent years, a phenomenon known as globalization or neoliberal restructuring has affected nations throughout the world. The basic premise of this system is that restrictions on trade, such as tariffs, are a hindrance and that “free trade,” or a lack of restrictions such as tariffs, is better. Opponents, however, point out that such a system leads to workers and farmers throughout the world being exploited even further while only the ruling classes profit. In Korea, as in other nations, this system has been universalized across all sectors of society. From the early 1990s, the labor movement has been hard hit, faced with a neoliberal New Management Strategy whose essence has been to implement the flexibilization of labor, employment, and labor markets. Thus, the struggle against neoliberal globalization has constituted a large part of the union movement, as public sector workers have fought against privatization, financial workers against the opening of the financial market, and other workers against worsening working conditions and precarious jobs. In this context, the labor movement joined the anti-globalization movement in the late 1990s, waging a struggle against international financial institutions like the International Monetary Fund (IMF), the World Trade Organization (WTO), and the World Bank that had imposed neoliberal conditionality over nation-states. Thus, many Korean ... log in or subscribe to read full text