After the financial crisis in 1997, South Korea’s public assistance programs were reshaped, but with varying success in tackling national poverty. New discussions have centered on asset-building for working poor families that have ties to work incentive policies. A growing number of asset-based programs have been implemented in South Korea on city and national levels. This overview of programs, policy, and research demonstrates where success has been found, and what the future steps should be in influencing asset-based public policy in the country. Through research done on CDA’s and IDA’s in South Korea, there is potential for the development of a universal asset-based policy in Korea to support the working poor and their children.
Project: South Korea: Asset-Based Policy Development
Kim, Y., Zou, L., Joo, Y. S., & Sherraden, M. (2011, July). Asset-based policy in South Korea (CSD Policy Brief No. 11-22). St. Louis, MO: Washington University, Center for Social Development.