Abstract
The core of neo-liberalism discourses on today's welfare issues lie in the incompatibility between market economy and welfare policies. Despite the recent sprouting of the neo-liberalist approach for the restructuring of the welfare state, a number of problems remain to be resolved. However, the so-called "productive welfare" concept, which originated under Korea's IMF economic crisis, serves as an important clue in that it represents the "co-existence of a market economy and the movement toward a welfare state." This paper aims at finding the implication that "Productive Welfare" has on the relation between a market economy and welfare policy by reviewing the concept of "Productive Welfare" and Korea's experience of it.
