Social Impact of South Korea’s Economic Polarization in the 21st Century

Abstract

Polarization has gained popularity as a pivotal lexicon to understand modern society. The rich and poor gap has been excessively widening to the point where the low and middle classes believe the effort is meaningless. Despite polarization being a global concern, this essay shall examine South Korea’s economic polarization and its social impact. Specifically, the essay spotlights the potential causes of extreme discrepancy between the high-class and low-middle class, alongside social division. The gist of this piece is to propose that economic disparities in classes have resulted in social polarization. The essay shall be structured into three sections. First, I analyze the possible causes of economic polarization. Second, this part delineates how economic polarization has been manifested in South Korea. Third, the social impact of such disparity will be analyzed. These sections suggest that aggravated economic polarization significantly dwindles the low and low-middle classes to self-actualize.