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Industrial park development strategy and management practices

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Frame of Image blic of Korea Korea Industrial Complex Corporation (KICOX) 	 yeyoung Cho, Research Fellow, Korea Industrial Complex H Corporation (KICOX)
Advisory
Jae-Hong Jang, Research Fellow, Korea Institute for Industrial Economics&Trade
Research Management
Korea Development Institute (KDI) School of Public Policy and 	 Management
Supported by
Ministry of Strategy and Finance (MOSF), Republic of Korea
Government Publications Registration Number 11-1051000-000182-01 ISBN 978-89-93695-34-2 94320 ISBN 978-89-93695-27-4 [SET 40] Copyright © 2012 by Ministry of Strategy and Finance, Republic of Korea
Government Publications Registration Number 11-1051000-000182-01
Knowledge Sharing Program
2011 Modularization of Korea’s Development Experience
Industrial Park Development Strategy and Management Practices
Preface
The study of Korea’s economic and social transformation offers a unique opportunity to better understand the factors that drive development. Within one generation, Korea had transformed itself from a poor agrarian society to a modern industrial nation, a feat never seen before. What makes Korea’s experience so unique is that its rapid economic development was relatively broad-based, meaning that the fruits of Korea’s rapid growth were shared by many. The challenge of course is unlocking the secrets behind Korea’s rapid and broad-based development, which can offer invaluable insights and lessons and knowledge that can be shared with the rest of the international community. Recognizing t


Full Text
Title Industrial park development strategy and management practices
Similar Titles
Project Category Development Cases
Material Type Reports
Author(English)

Cho, Hyeyoung

Publisher

Seoul:KDI School of Public Policy and Management

Date 2012
Project Development Cases
Series Title; No Knowledge Sharing Program: KSP Modularization
ISBN 978-89-93695-34-2; 978-89-93695-27-4
Pages 116
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < General
Holding KDI School of Public Policy and Management
Supervisor KDI School of Public Policy and Management
Organizer Ministry of Knowledge Economy; Korea Industrial Complex Corporation
Sponsor Ministry of Strategy and Finance
Project Term 2011-01-01 ~ 2011-12-31

Abstract

Korea was one of the world’s poorest countries by the early 1960s, but it has achieved an unprecedentedly rapid growth to be an advanced country, prompted by active government strategy for economic development. The driver of Korea’s economic growth was the manufacturing sector, and industrial parks have significantly contributed in the course of economic growth as incubators for manufacturing businesses.
Korea established the 1st Five-Year Economic Development Plan (1962-1966) in 1962 and aggressively implemented the export-driven industrialization strategy to achieve the self-sustained economic growth by overcoming the challenges including scarce natural resources, the small size of the domestic market, the less competitive private sector and limited capital. To focus on fostering of the export-oriented light industries where Korea had global competitive edges at that time, Korea adopted support systems in terms of foreign exchange rates and government subsidies, while actively developing industrial parks. (The rest omitted)