Francis Kim says infrastructure is key to overcoming regional economic woes

Furman University’s Francis Kim, an associate professor of finance in the Department of Business and Accounting, writes a regular column for the Korea JoongAng Daily. In his latest article, Kim juxtaposes the American post-Civil War era and the economic ruin the South faced with Korea’s current economic woes. The answer to the problem was and is infrastructure, he writes. Tennessee Valley Authority projects, the Interstate Highway System and other megaprojects, higher education, and foreign investment in the U.S. ushered in a robust economy for the South.

Kim says the same could be true for Korea. “For southwestern Korea’s development strategy to succeed, comprehensive infrastructure must be built quickly,” he writes. “With the right infrastructure, even a lagging region can become a dynamic one.”