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The Trap of Regulation and Vested Interests: Lessons from Gwangju and Korea's Future
Gwangju's population has fallen below 1.4 million for the first time in 21 years. The result of 10 years of blocking large complex shopping malls under the pretext of 'protecting traditional markets' is disastrous. Gwangju's failure foreshadows a grim future for all of South Korea trapped in regulations and vested interest cartels.