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Financing the Kingdom - How Taxation Shaped the Joseon Dynasty’s Endurance

Please join this virtual talk by Dr. Joo-hee Choi (Duksung Women's U) hosted by the Choson History Society.

The event will take place on May 8, 5:00 - 6:30pm (LA Time) / 8:00 - 09:30pm (New York Time) / May 9, 09:00 - 10:30am (Seoul Time).

Abstract

In this presentation, Joo-hee Choi will explain how the Joseon Dynasty maintained stability for over 500 years through sophisticated financial management, particularly during the Yeongjo and Jeongjo eras. While European states in the 17-18th centuries developed as "Fiscal-Military States" focused on securing war funds, the Joseon Dynasty pursued financial operations aimed at stabilizing the lives of common people through innovative tax reforms.

The 18th century marked Joseon's transition from a ‘tribute taxation state’ to a more systematic ‘fiscal state’. In particular, King Yeongjo's publication of Takjijeongrye (度支定例) and implementation of the “Uniform Tax Law (Gyunyeokbeop, 均役法)” created a crucial foundation for long-term fiscal austerity in the Joseon Dynasty. Yeongjo reduced the military cloth tax (gunpo, 軍布) from two pieces to one to ease the burden on the people while simultaneously implementing financial austerity beginning with the royal household, thereby creating a structure to control expenditures.

This financial policy of Yeongjo aimed to realize Confucian people-centered governance stated as “benefiting those below by reducing benefits for those above” (Sonsangikha 損上益下) and was recognized as a model by subsequent kings. Despite internal and external crises facing Joseon in the 19th century, Yeongjo’s people-centered financial reforms significantly contributed to the dynasty’s longevity until the mid-19th century.

About the Presenter

Dr. Joo-hee Choi is a Professor of Korean History at Duksung Women’s University. She received her bachelor’s and master's degrees from Ewha Womans University and earned her Ph.D. from Korea University with a dissertation titled “The Operation of Seonhyecheong (宣惠廳) and Changes in the Central Financial Structure during the Late Joseon Period.” Her previous positions include Research Fellow at the Academy of Korean Studies and Senior Research Fellow at the Korean Studies Promotion Service. Her research focuses on socioeconomic history of Joseon Korea, particularly financial systems and taxation policies. Major publications include “The National Economy of Late Joseon Dynasty Through Statistics" (2013), “Women's Spaces in Hanyang” (2021), and “Mediators Between Seoul and Provinces: Gyeongjuin (京主人)” (2024). Her current research explores the financial historical significance of meteorological records from the Joseon period.