An evaluative anlaysis of Korean legislative development in relation with economic growth

The Korean economy has achieved unprecedented economic growth at a rapid pace greatly powered by the economic development plan established in 1962. Despite its small land and limited resources, Korea has accomplished a high economic growth. Korea’s economic success was largely backed up by it land development policies and legislation as they laid the foundation for the economic growth and balanced development of the nation. Korea’s land development policy in a modern concept started being formed from the 1960s and it has contributed to build a range of social infrastructure which is needed for the nation’s growth and balanced development of the land. Social infrastructure in principle provides the basic services which establishes the foundation of the national economy and strengthens the nation’s competitiveness. Investment in social infrastructure plays a critical role in growing the economy. (The rest omitted)