The paper deals with two systems: democracy as political system and market
economy as economic system. In discussing two systems three questions are
raised: firstly, what are democracy and market economy? secondly, how well
does the Korean Constitution incorporate the spirit of democracy and market
economy? thirdly, are democracy and market economy compatible each other?
Answers provided to the questions raised above are: first, while general public
in Korea understand well democracy, even scholars and experts in Korea are
very poor in understanding the nature of market economy. second, the Korean
Constitution incorporates quite well the spirit of democracy but nevertheless the
spirit of capitalistic free market economy is poorly incorporated. to put it simply
so many anti-capitalistic regulations are found in the Korean Constitution. third,
the paper explains why democracy and market economy are basically not
compatible. So many social and economic problems facing Korea have something
to do with above three questions and answers. Furthermore the paper deals with
more questions such as: why government cannot solve so many economic
problems?, why general public are not satisfied with government policies?, and
how much improvement one expects in revising economic articles of
Constitution?