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Window to Korea’s Development Experiences

Development Overview/ Overview of Korea's development experience

Growth of the Manufacturing Sector// Is the 1960’s, the manufactufacturing sector started to play a leading role in Korea’s economic growth,
	and between 1960 and 1970, Korea enjoyed an annual growth rate of 17 percent.
Rural Community Development// As part of a rural community development project, the Saemaul Movement significantly imporved
							rural living conditions in such areas as roads, housing, water supply, sewage and irrigation.
Vocational Training and Education// Vocational training and education programs produced skilled manpower
required for industrialization.
Promoting Heavy and Chemical Industry// In the 1970s, the HCI (heavy and chemical industry) drive contributed
to forming the foundation of key industries that currently support the Korean economy.
Building Infrastructure// The successful completion of the first three Five-Year Plans (1962-1976)
 led to the development of alternative transportation means, including expressways.
International Sports Events// Holding the Olympic Games stimulated 7 billion US dollars of production
and 2.7 billion US dollars of national income from 1981 to 1988.
Financial Sector Reform// Financial sector reform normalized the financial system and
rebuilt the financial safety net to prevent future crisis.
Technology Development// From the early 2000s, technological development was made possible by domestic R&D
 activities and imports of capital goods that embody advanced technologies.

Statistics/ Key development data for Korea

  • Houshold debt is defined as all liabilities that require payment or payments of interest or principal by household to the creditor at a date or dates in the future. Consequently, all debt instruments are liabilities, but some liabilities such as shares, equity and financial derivatives are not considered as debt.

  • A business survey index (BSI) reading of 100 implies that the number of firms responding positively to the survey questions was equal to the number of firms responding negatively. A reading above 100 indicates more firms, on balance, are positive and vice versa.

  • International reserves are liquid assets held by a country's central bank or other monetary authority in order to implement monetary policies effecting the country's currency exchange rate and ensuring the payment of its imports. The assets include foreign currency and foreign denominated bonds, gold reserves, SDRs (special drawing rights) and the IMF reserve position.

  • KDI
  • 청화대
  • Knowledge Sharing Program
  • KOICA
  • 한국교육과정평가원
  • Korea Foundation
  • Korea Legislation Research Institute(법제연구원)
  • 한국교통연구원
  • 서울정책아카이브
  • 경제인문사회연구회 NKIS
  • STATISTICS KOREA
  • GDPC
  • Korean Women's Development Institute
  • The Federation of Korean Industries
  • 통계청 도서관
  • ODA KOREA
  • KOREA.net
  • 아시아재단