Post-Industrial Rigidification from a Subjective Perspective: Analysis of Intergenerational Asset Transfer and Class Perception in South Korea

This study examines the post-industrial rigidification hypothesis in the context of South Korea, with a focus on intergenerational asset transfer and subjective class perception. The post-industrial rigidification hypothesis attempts to explain inequality in East Asian nations that experienced rapid industrialisation in the latter half of the 20th century. It posits that the surge in housing and land prices during industrialisation created new forms of inequality, which now act as barriers to intergenerational class mobility. However, this hypothesis has not gained widespread academic support due to its basis in East Asian historical specificities. Despite increasing asset inequality, trends in intergenerational social mobility have not significantly changed recently. Consequently, theories emphasising similarities in social mobility patterns, such as the FJH hypothesis or trendless fluctuation theory, seem more applicable to East Asian nations. The research aims to enhance the explanatory power of the post-industrial rigidification thesis by incorporating subjective expectations of class mobility. This study will analyse how parental support for housing acquisition affects the younger generation's perception of class mobility and changes in class consciousness in post-industrial South Korea. The study will employ quantitative analysis using data from the Korea Labour Panel. Key variables include parental housing support, subjective class perception, evaluation of upward mobility prospects, social mobility perception, residential area, educational attainment, and income levels. We will use multiple regression analysis, panel analysis for data analysis. This research is significant in several ways. It adds a subjective dimension to the post-industrial rigidification hypothesis, empirically analyses the impact of intergenerational real estate asset transfer on class perception and social mobility evaluation, examines the effect of parental support on class consciousness formation across different age groups and educational levels, and derives policy implications for enhancing intergenerational equality and social mobility.