[Videoconference] Heavy and Chemical Industry Drive During the 1970s
|Venue||KDI School, Seoul, Republic of Korea||Date||2014-05-30 ~ 2014-05-30|
|Host||KDI School of Public Policy and Management||Organizer|
This event will be provided in English.
|Heavy and Chemical Industry Drive During the 1970s|
Knowledge sharing for sustainable development and global prosperity is one of the key motivations behind establishing the KDI School of Public Policy and Management. The KDI School understands the valuable role the GDLN can play as an effective tool for knowledge sharing and learning. As part of the designated GDLN Korean Center's knowledge exchange initiatives, the KDI School is launching blended learning programs that focus on Korea's successful development experiences.
Transitioning from an aid recipient to an OECD-DAC donor, Korea has achieved remarkable economic growth, democratization and social stability in less than half a century. With Korea's extraordinary development widely acknowledged and documented, Korea is in a unique position to share its experiences with emerging and developing countries as a means of furthering global development.
This course will be an opportunity for participants to stimulate critical thinking about development experience and to reflect on their respective economies as well.
• Learninig Objective
In promoting upstream industries during the HCI drive in the 1970s, Korea had to make a strategic choice. It could play safe and develop heavy and chemical and defense industries for the small domestic market and risk inefficiency resulting from suboptimal scales and entrenched protectionism. Alternatively, it could promote these industries for the global market and risk capacity underutilization and financial distress. Korea chose the latter option, because, despite considerable risks, it promised a dynamically efficient growth trajectory if Korea managed to develop the requisite skills before the financial burden associated with scale economies and complementary investments became overwhelming. To minimize time and exploit scale economies in establishing capital-intensive industries, the government decided to rely on a select group of state-owned enterprises and family-based business groups with successful track records. It felt that scale economies called for regulated monoploy or oligopoly in these industries until demand became large enough to support effective competition. After benchmarking advanced industrial nations with natural endowments similar to Korea's, such as Japan, Korea recognized that it had a potential comparative advantage in machinery and equipment industries and began to remove obstacles that stood in the way, such as lack of technicians and engineers with the requisite skills in sophisticated industries.
Introduction of Speaker
Introduction by each DLCs
|Presentation: Heavy and Chemical Industry Drive during 1970s|
|16:02-16:42||Presentation||Wonhyuk Lim (Speaker)|
|16:42-16:44||Dynamic Korea Promotional Video|
- Introduction of Discussant
- Jin Park (Moderator)
- Sophremiano B. Antipolo (Discussant)
|16:55-17:30||Q&A||Wonhyuk Lim (Speaker)|
□ Date: May 30, 2014
□ Venue: KDI School of Public Policy and Management
□ Contact: Ms. Grace Kim (email@example.com, +82-(0)2-3299-1106)