Economic growth is a strong drive to cultural development and concurrently conditioned by it. Therefore, to sustain the economic development, it is necessary to seek for it in relation to cultural development as well as to economic variables. The research objective of this paper is to explore the task of cultural development in hand to surmount the present economic crisis triggered off by the expanding globalization. The paper first investigates the correlation between economic growth and cultural heritage. Based on the results of this investigation, the paper analyses cultural causes of the crisis in Korean economy against the all previous rapid growth. Finally, this paper proceeds to identify the challenging tasks urgently needed to a successive economic growth accompanied by proper adapt of the globalized modern capitalism to Korean economic circumstance.