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Private sector development

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Title Private sector development
Similar Titles
Project Category Development Cases
Material Type Reports
Author(English)

Rhee, Zusun; Cho, Gyeong Lyeob; Lee, Taekyu

Publisher

Seoul:Korea Development Institute

Date 2011
Project Development Cases
Series Title; No Knowledge Sharing Program: KSP Modularization
ISBN 978-89-8063-575-7; 978-89-8063-573-3(SET 10)
Pages 148
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Holding KDI; KDI School
Supervisor Korea Development Institute
Organizer Ministry of Strategy and Finance; Korea Development Institute
Sponsor Ministry of Strategy and Finance
Project Term 2010-01-01 ~ 2010-12-31

Abstract

In Korea, full-fledged industrialization policies began in 1961 when President Park Chunghee took office. During the course of industrialization, the most frequently utilized policies for corporate support included the finance and tax measures over which the government had a strong control. The financial support policies under the Park Administration included the export finance of the 1960s and the financial support for the heavy and chemical industries(HCIs) of the 1970s. For export finance, the automatic loan approval system played an important role. Additionally, export financing by the banks was supported by re-discount of the Bank of Korea. For the promotion of HCIs, policy loans were concentrated on the HCI sector, while the National Investment Fund(NIF) was established to utilize domestic savings for HCI investment. During the early stages of development, the financial supports were provided to the exporting companies, and the HCIs played a critical role in advancing industrialization of Korea in a short period. (The rest omitted)

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