콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy General

Print

Korea's economic development

Related Document
Frame of Image  2. Development Strategies ····························································································· 9 Chapter 3. Economic Stabilization and Liberalization ··························································· 14 Chapter 4. Financial Crisis of 1997 ····························································································· 16 Chapter 5. Concluding Remarks ·································································································· 18 References ······································································································································ 22
8
The Economic Crisis and Restructuring in Korea
List of Tables
Table 2-1 The Korean Economy ································································································ 10 Table 4-1 Korea’s Total External Liabilities ············································································· 17
Korea’s Economic Development
9
List of Figures
Figure 5-1 Figure 5-2 Figure 5-3 Figure 5-4 GNP Per Capita and Growth Rate ··········································································· 19 Interest Rate Trend ····································································································· 20 Inflation Rate (CPI) ···································································································· 20 Exchange Rate and Current Account Balance····································


Full Text
Title Korea's economic development
Similar Titles
Material Type Proceedings
Author(English)

Kang, Moon-Soo

Date 2003
Pages 22
Language English
File Type Documents
Original Format pdf
Subject Economy < General
Holding KDI School of Public Policy and Management

Abstract

The Korean economy has achieved an unprecedented growth in the last three decades or so. Between 1965 and 1995 Korea's per capita GNP increased from US$105 to over US$10,000 while the share of agriculture in GDP decreased from 38% to less than 7% during this period. Exports recorded a substantial increase from US$0.2 billion to US$125 billion.
Many factors have contributed to Korea's rapid economic growth. The first is a literate population capable of learning skills quickly, which played a key role in export-oriented labor-intensive industrialization during the earlier phases of development. Workers have been hard-working and disciplined in their drive to improve their socio-economic status.
Secondly, a strong leadership committed to economic development and capable bureaucrats have also been critical. The military government led by General Park, which came into power by a coup in 1961, promised to Korean people liberation from poverty. With the success of government-initiated economic progress, public confidence in the government has been strong in Korea.