A fractured republic seeks renewal through shared growth

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A fractured republic seeks renewal through shared growth

Published: 28 May. 2025, 00:01

Audio report: written by reporters, read by AI

Chung Un-chan

The author, a former president of Seoul National University, is the chairman of the Korea Institute for Shared Growth.

For the second time in a decade, Korea casts ballots for a “Rose Presidential Election” — so named because it falls in May. Since the beginning of the Sixth Republic, presidential elections have typically taken place in mid-December. But following the impeachment of former President Park Geun-hye, the 2017 election took place in May. With President Yoon Suk Yeol also ousted by impeachment, Koreans are once again casting their votes during rose season.

A campaign poster for the 21st presidential election is displayed near Gongdeok Station in Mapo District, western Seoul, with roses in full bloom behind it on May 15. [YONHAP]

The symbolism, however, is painfully ironic. While roses signify passion, hope and love, this election follows the ouster of a president who declared martial law, an act widely viewed as a direct assault on the constitutional order of Korea’s democratic republic.

The attempted invocation of martial law nearly turned back the clock on Korean democracy. The ensuing impeachment proceedings exposed long-festering wounds in Korean society. Political leaders engaged in blatant falsehoods. The media, rather than clarifying facts, often amplified divisions through partisan framing. Even Korea’s once-proud civil service appeared to waver from its public duty, eroding the ethical standards of governance.

Public trust has been further weakened by intensifying partisanship, moral absolutism and confirmation bias. The shared values that once underpinned the Korean social contract — including the notion of a common good — are increasingly obscured. In every sense, the country finds itself in the midst of a crisis for its democratic republic.

At the heart of this crisis is the erosion of Republican values: liberty, the common good and the rule of law.

The Korea Commission for Corporate Partnership held its 81st plenary session at the FKI Tower Conference Center in Yeouido, Yeongdeungpo District, Seoul, on December 10, 2024. [SHARED GROWTH COMMITTEE]

Republicanism rests on the fairness of law, the dispersal of power, freedom from domination and the pursuit of collective welfare. At its core lies the principle of “shared growth” — a concept that envisions a society where no member is excluded, and where individuals, regardless of wealth or region, advance together through cooperation and mutual respect.

Shared growth is more than an economic theory. It is a vision of society rooted in the values of Republican democracy. It seeks harmony by narrowing divides between the rich and poor, between advanced and underdeveloped regions. It represents a political philosophy as much as an economic strategy — a blueprint for a sustainable and inclusive society.

This spirit of shared growth should be the defining ethos — the zeitgeist — of the upcoming June 3 election. In previous eras, economic development under former President Park Chung Hee and the push for democratization of the 1980s served as dominant national visions. Today, as polarization and distrust deepen, the call for inclusive progress may well define this political moment.

Modern history has been shaped by continuous struggles to build more equitable societies. From the breakdown of feudal structures to the rise of welfare states, practices such as suffrage, labor rights, compulsory education and progressive taxation have emerged through compromise, resistance and reform. These efforts have always aimed to reconcile capitalist modernization with democratic inclusion.

In that historic context, shared growth is not a novel slogan, but a timeless imperative. It is the answer to the challenges of the present — a means of rebuilding social trust and reaffirming the foundational principles of Republican governance.

The concept must be broadened beyond economic policy to guide Korea’s path forward. It should become a unifying national objective, driving by not only growth, but also social integration.

To this end, I propose elevating the existing Korea Commission for Corporate Partnership to a presidential-level institution — a National Committee for Shared Growth. First, empowering the committee under the president’s office would give it greater authority to oversee a comprehensive range of policy initiatives. Second, municipal governments should establish parallel bodies to promote balanced regional development. Third, the committee must serve as a command center, coordinating small- and medium-sized enterprise-related policy across ministries while acting as a practical support center.

Lee Hwan-joo, president of KB Kookmin Bank (right), and Lee Dal-gon, chairman of the Shared Growth Committee, tour a booth at the “2025 First KB Good Job Fair for Outstanding Companies” held at Coex in Gangnam District, Seoul, on May 26. [JOINT PRESS CORPS]

Under this framework, the current committee would be reorganized to include a dedicated ombudsman and special investigators to protect small- and medium-sized enterprises and monitor large corporations' adherence to fair practices. The infrastructure would also support the implementation of a profit-sharing system, reinforcing the principle of equitable distribution.

As the June 3 election draws near, the hope is that it can serve not only as a political reset but also as a societal healing process. The scars left by martial law and impeachment demand a recommitment to the values of Republican democracy.

Shared growth is not merely a policy tool; it is a necessary force to restore Korea’s democratic promise. In a moment marked by division, it may be the clearest path toward unity and renewal.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.