This chapter explores key questions of this book, including not only why Korea was able to achieve such sustained economic success from the 1960s to the 2010s, but also to what extent and why the Korean economy has changed. After critically reviewing prevalent theories including neoliberalism, the Global Production Networks, and the institutionalist developmental state (DS) theory, this chapter proposes a theoretical alternative by emphatically reviving the politics among diverse actors. In order to better account for endogenous changes and sustained economic success over a long period, this chapter suggests institutional adaptability and endogenous changes through elite competition.