This blog post examines the economic and cultural changes that transnational capital and the spread of Western culture have brought to Korean society.
For humanity on the brink of the 21st century, globalization signifies a major historical transition. Discussions related to globalization, such as infinite competition, national competitiveness, and market opening, are also of utmost concern to individual countries. In particular, such discussions go beyond simple economic interests to promote political and social change, and they also call for changes in norms and values around the world. Internationalization simply refers to the phenomenon of increased exchanges between individual countries. On the other hand, globalization refers to a process in which the social structure of individual countries and the relationship between countries are reorganized on a new level, beyond the quantitative expansion of exchanges.
First of all, globalization in the economic sphere refers to the phenomenon in which the economic interdependence of countries increases as trade, investment, communication, and exchanges between countries expand, and multilateral consultations, coordination, and cooperation are strengthened internationally. What has recently been attracting attention in this globalization of the economic sphere is the rapid growth of transnational financial capital. Transnational financial capital is driving financial transactions that are now many times larger than current global trade transactions. Moreover, it is exerting a significant influence on the national economies of each country through its global network and strategic alliances. The growing influence of transnational financial capital is weakening the economic sovereignty of each country and limiting the autonomy of economic policy.
The growing role of transnational organizations is also an important aspect of globalization. Transnational organizations, which were formed to address issues that could not be resolved within the existing framework of individual countries, are growing in importance. The influence of intergovernmental organizations such as the United Nations (UN), the International Monetary Fund (IMF), and the World Trade Organization (WTO) has increased, and the policy decisions of these organizations have a significant impact on the policy direction of individual countries. In addition, the weight of non-governmental organizations (NGOs) such as Amnesty International and Green Peace is also increasing. These NGOs are expanding their activities by dealing with global issues such as human rights, the environment, and peace beyond the interests of a particular country.
Meanwhile, the globalization of the cultural sphere is also an area that should be noted. The production, distribution, and consumption of culture are taking place in international networks, and the culture and lifestyles of individual countries are spreading rapidly around the world. For example, news, movies, television programs, popular music, and computer software from all over the world are distributed and made available to everyone in the global market. However, this also deepens cultural dependence on developed countries. In particular, as Western-centric culture spreads around the world, local traditional cultures and values are being threatened. This cultural dependence can lead to confusion in national identity and weaken the cultural independence of each country.
So, how is the current rapid restructuring of the world order affecting Korean society? First and foremost, it is important to note that globalization is greatly changing the quality and structure of our lives. Globalization of financial capital and globalization of culture are representative examples. The activities of transnational financial capital were one of the main factors that led to the recent foreign exchange crisis. As a result, the economic policy management of the International Monetary Fund (IMF) has had a decisive influence on our national economy. In addition, the influx of Western food, clothing, and culture, as well as popular culture represented by American Hollywood movies and pop music, has had a great impact on our daily consciousness and lives. As this influx of culture accelerates, our national culture is rapidly changing. At the same time, these changes are causing a clash between traditional and modern cultures, which is also leading to an expansion of the cultural gap between generations.
These facts require us to accurately recognize the ongoing globalization and respond to it more actively. Since globalization is reorganizing social life, which was previously conducted on the basis of ethnic units, we will need to have a more open nationalistic view of globalization. Open nationalism here refers to the active acceptance of the phenomenon of globalization in various areas such as politics, economy, and culture, while rejecting inequality between individual countries. In other words, it can be embodied by rejecting political, economic, and cultural subordination and actively accepting liberalism, egalitarianism, and humanism. This open nationalism, which seeks a new relationship between individual countries, away from the existing nationalistic mindset, is the basic condition for establishing a regional and global order of mutual benefit and equality. Furthermore, open nationalism will play an important role in solving the various global challenges we will face in the coming 21st century.
