This paper examines regional economic development in the Republic of Korea, highlighting its relevance for sustainable growth. Korean regionalism, often framed as disparities between government-favored areas—Seoul and the South-East—and allegedly disadvantaged regions, particularly the South-Western Jeolla provinces, has long shaped public perception and policy debates. Using a panel dataset of sixteen regions from 1998 to 2022, we analyze convergence in per-capita GDP and consumption levels with the time-factor decomposition framework. Our findings reject overall economic convergence, revealing persistent geographical disparities. Yet, contrary to conventional narratives, the South-East and South-West provinces form convergence clubs together, and Seoul aligns with historically disadvantaged South Jeolla in per-capita GDP. Other convergence clubs indicate an urban–rural economic divide. These results suggest that perceptions of regional favoritism may not reflect actual economic outcomes. From a sustainability perspective, the study underscores the need for evidence-based regional development policies: promoting sustainable growth requires attention to empirically observed economic patterns rather than historical assumptions or perceived favoritism.
Alexandre Repkine (Wed,) studied this question.