This book investigates the interdependent relations between economic development, regional development, and spatial economic policy in newly industrialized countries, using South Korea as a case study. The analysis concentrates on three aspects: (a) long-term economic restructuring starting with labour-intensive production, followed by capital-intensive and, finally, human-capital and technology-intensive production; (b) the effects of the economic transformation process on regional development; and (c) the significance of spatial economic policy for sectoral and regional economic restructuring.