Changes in United States' Korean Aid program in the 1970s, and its involvement in Korean Housing - Examination of the formation of the Housing Finance market, and the changes it went through - :주택금융시장의 형성과 재편을 중심으로

Lee Hwi-hyun

doi:10.35865/YWH.2019.03.111.317

Changes in United States' Korean Aid program in the 1970s, and its involvement in Korean Housing - Examination of the formation of the Housing Finance market, and the changes it went through -

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1970년대 미국 대한원조정책의 변화와 한국 주택문제 개입 : 주택금융시장의 형성과 재편을 중심으로

Type: Academic journal

Author: Lee Hwi-hyun (고려대학교)

Journal: The Organization Of Korean Historians YŎKSA WA HYŎNSIL : Quarterly Review of Korean History No.111 KCI Accredited Journals

Published: 2019.3

Pages: 317 - 362 (46page)

DOI: 10.35865/YWH.2019.03.111.317

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Changes in United States' Korean Aid program in the 1970s, and its involvement in Korean Housing - Examination of the formation of the Housing Finance market, and the changes it went through -

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Changes in United States’ Korean Aid program in the 1970s, and its involvement in Korean Housing - Examination of the formation of the Housing Finance market, and the changes it went through -

Lee Hwi-hyun YŎKSA WA HYŎNSIL : Quarterly Review of Korean History 2019.03 Academic journal

2017

1970년대 미국의 대한(對韓) ''사회개발 원조''와 한국의 주택정책 : 주택금융시장의 형성과 재편을 중심으로

이휘현 한국사학과 2017.01 Thesis

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Examined in this article is how the U.S. government intervened in South Korea’s housing issue, in the wake of U.S.’ own modification of its Korean aid program during the 1970s. Intended here is to reevaluate the role such program actually played, and reexamine its very nature too. Primarily analyzed here are the contents that were changed, as well as the new objective of such program, which reveals the fact that U.S. was particularly interested in the housing issues of South Korea. Housing is still a big issue today in the Korean society, and the birth of the housing finance market in Korea seems to have been a product of a situation where U.S. Cold-war strategy and the Korean society’s domestic changes happened to cross paths. Hopefully an examination on that would provide us with a clue to the nature and goal of U.S.’ Korean relief program of the 1970s.
In the late 1960s, the U.S. government was feeling a need to modify its own foreign relief program. After President Nixon was sworn in, the U.S. government made it a point to boost efficiency in foreign aid and stabilize the 3rd World countries. During the 1970s, U.S. aimed to support stabilization of those countries while also implanting administrative institutions which would serve to enforce free market economy in the future, and that was exactly what U.S. did in South Korea in the 1970s. U.S. was especially interested in Housing issues, and by establishing institutions concerning housing finances, it intended to lay out the foundation for a ‘modernized’ market of financial capital for the very first time in Korea. In other words, while U.S. intended to stabilize the Korean society, it also intended to spread a Capitalist economic order led by the U.S. inside Korea.
U.S. aid of Korean housing played an important rule in enlarging the Korean housing market and growth of the Korean housing industry. Yet the ultimate goal of the modified aid program, the institutionalization of a housing finance market in Korea, was delayed due to a clash of interest with the South Korean government which wanted to distribute and spend resources according to its own plan and need. The development strategy of the Park Jeong-hi regime aggravated social inequality, and the Yushin system was later dismantled. The new military regime expanded customer-oriented financial support as suggested by the U.S., and promoted enhanced autonomy within the financial market as well. Construction companies which already grew to become ‘Jaebeol’ conglomerates preferred the idea of boosting the economy with said methods, and in addition wanted new effective demands to be created. In the process, the Korean population and not to mention the Korean financial market was gradually absorbed into the U.S.-led Capitalist world economy of finance, while being exposed to the nature of uncertainty, such global order most clearly manifested.

#냉전 #대한원조 #개발전략 #주택문제 #주택금융 #주택원조 #미 국제개발처 #Cold War #Korean Aid #Development strategy #housing issues #housing finance #housing aid #USAID

머리말
1. 1960년대 후반 주택문제의 심화와 한·미 정부의 개발전략
2. 한·미 정부의 상반적 주택정책 방침과 주택자금 수요 주체의 재편
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