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Rural development policies in Korea: policy measures, effects and issues for remain during 1960-1995

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Korea was one of the least developed countries in the world when she was liberated from Japanese colonial occupation in 1945. Immediately after the liberation, Korea was divided into two states: the North and the South. The South had 68.5 percent of total population with 47.8 percent of territory. Most natural resources and heavy industrial facilities were located in the North. The partition of the nation made the South an agriculture based poor country with a highly dense population. The division of national territory into two confronting ideological polities eventually brought a war, which lasted for three years from 1950 to 1953, and destroyed lives, industrial facilities and even agricultural production bases thoroughly. The rehabilitation of national economy was the major economic goals in the 1950s. Most consumption goods and reconstruction materials were imported and therefore, it became a major cause for national financial deficit in this period. National economy in the 1950s was characterized by high population growth, high unemployment and high inflation. Annual inflation rate was almost 22 percent, and domestic savings ratio to GNP was only about 4 percent, while the investment ratio to GNP was 10 percent during 1954-61. GNP growth rate in the same period was recorded at 4.4 percent per annum. Since agriculture was the most important industry, accounting for more than 40 percent of GNP in the 1950s, agricultural development was emphasized. Two land reforms, execu


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Title Rural development policies in Korea: policy measures, effects and issues for remain during 1960-1995
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Material Type Proceedings
Author(English)

Chung, Ki-Whan

Author(Korean)

정기환

Date 2002
Pages 45
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Agriculture
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