History of Economic Development in South Korea

Author(s):  
Nabaz T. Khayyat
2019 ◽  
Vol 12 (1) ◽  
pp. 247-259
Author(s):  
Yong-Shik Lee

Abstract North Korea is currently one of the most impoverished countries with a history of famine, but the country has a significant potential for economic development that could lift its population from poverty. Neighbored by some of the largest and most advanced economies in the world (South Korea, Japan, and China) and endowed with abundant mineral resources, industrial experience, and a history of successful economic development in the past, North Korea can embark on the path to rapid economic development, as its southern counterpart (South Korea) did so successfully since the 1960s. Yet, the successful economic development of North Korea requires a comprehensive approach, including obtaining a fund for development; normalizing relations with the West and the neighboring countries; improving its human rights conditions; prioritizing key industrial development; and reforming its political-economic system. This note discusses the comprehensive approach necessary for the successful economic development of North Korea.


2013 ◽  
Vol 41 (2) ◽  
pp. 175-192
Author(s):  
Kurtuluş Gemici

Abstract Despite the voluminous literature on South Korea’s rapid economic development and social transformation in the 1960s and 1970s, the literature in English on Park Chung Hee — the political figure who indelibly marked this era — is still lacking. Furthermore, the existing studies approach the subject of Korea’s fateful decades from general theoretical perspectives, such as the developmental state. This approach inevitably flattens out historical particularity in the process. A recent edited volume, The Park Chung Hee Era: The Transformation of South Korea, fills these gaps by bringing political history back into the study of Korean modernization. The goal of this review essay is a critical evaluation of this volume’s contribution to scholarship on South Korea. It is posited that The Park Chung Hee Era throws light on topics such as Park’s leadership that have been hitherto neglected in the analysis of arguably the most consequential decades in the history of South Korea. However, while the edited volume mounts an effective criticism of existing perspectives on Korea’s developmental decades under Park Chung Hee’s rule, it is less successful in offering a consistent framework to analyze different causal factors shaping the Korean trajectory of economic development.


Author(s):  
Sanghoon Kim ◽  
Hah-Zoong Song

The development of South Korea, due to relevant and effective industrial policies, is unique in the modern history of industrialization. Within one generation, the country transformed itself from a poor agrarian society into a modern industrial power, all the more remarkably in that its rapid economic development was broad-based and supported by all stakeholders. From 1962, the South Korean government aggressively pursued an economic development strategy that centred on manufacturing-sector growth, driven largely by industrial complexes. Lately, more than 900 industrial clusters account for 62 per cent of the country’s manufacturing production and 80 per cent of total exports. South Korea’s policies designate physical sites and facilitate growth platforms that reinforce cooperation and coordination between industries, academia, and research. This chapter reviews the path of industrial development that South Korea took, with attention to the industrial complexes and clusters scattered across the country, and the measures and policies that enabled them.


2018 ◽  
Vol 11 (2) ◽  
pp. 126
Author(s):  
Kholifatus Saadah

As one of the world’s poorest countries in the world 30 years ago, South Korea proved its remarkable economic development. Within three decades, South Korea’s economic development shot up and attracted international attention. The economic strength in South Korea is supported by several global corporations such as Samsung, LG, Hyundai and others. The corporations have South Korea’s “ala” power, chaebol. Chaebol itself is similar to keiretsu in Japan, which global corporations are run by families and are hereditary. As time goes by, South Korea with its corporate culture does provide many advantages for South Korea as a whole, but this condition does not last forever. Not on the decline in revenues to South Korea’s economy, but the scandal of some global corporations in South Korea, especially Samsung raises new questions, should the South Korean Corporate culture be changed in the future? This question will be answered and explained in this paper. The author will explain through the history of the Korean corporate culture that is influenced by Confucianism, Samsung’s history to become a global corporate power for South Korea as well as an analysis of corporate governance on the economic situation in South Korea.


Author(s):  
Paul Stevens

This chapter is concerned with the role of oil and gas in the economic development of the global economy. It focuses on the context in which established and newer oil and gas producers in developing countries must frame their policies to optimize the benefits of such resources. It outlines a history of the issue over the last twenty-five years. It considers oil and gas as factor inputs, their role in global trade, the role of oil prices in the macroeconomy and the impact of the geopolitics of oil and gas. It then considers various conventional views of the future of oil and gas in the primary energy mix. Finally, it challenges the drivers behind these conventional views of the future with an emphasis on why they may prove to be different from what is expected and how this may change the context in which producers must frame their policy responses.


2001 ◽  
Vol 3 (1) ◽  
pp. 103-125 ◽  
Author(s):  
Andrei N. Lankov

This article, based on newly declassified material from the Russian archives, deals with the fate of non-Communist parties in North Korea in the 1950s. Like the “people's democracies” in Eastern Europe, North Korea had (and still technically has) a few non-Communist parties. The ruling Communist party included these parties within the framework of a “united front,” designed to project the facade of a multiparty state, to control domestic dissent, and to establish links with parties in South Korea. The article traces the history of these parties under Soviet and local Communist control from the mid-1940s to their gradual evisceration in the 1950s.


2021 ◽  
Vol 9 ◽  
pp. 2050313X2110355
Author(s):  
Laura Suzanne K Suarez ◽  
Larnelle N Simms ◽  
Khaled Deeb ◽  
Curtis E Scott

Recurrent pyogenic cholangitis (RPC) is a condition found almost exclusively in individuals who lived in Southeast Asia. We report a case of a Caucasian veteran diagnosed with RPC after presenting with a 5-year history of recurrent fevers and abdominal pain 20 years after serving in Japan, South Korea, and Guam. Extensive evaluation led to the diagnosis of RPC with improvement after biliary decompression and antibiotics. Although rare, RPC should be considered in individuals who present with recurrent bouts of abdominal pain and fevers regardless of race.


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