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Korea's policy path toward sustainable development : Key reforms and drivers by stage

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Frame of Image nomic Development in Stages
2
2. Export-Promotion in the 1960s
Promote exports and introduce the exchange-rate system reform and various supportive measures for export.
Promoted investment in import-substitution industries, especially heavy and chemical industries.
On the whole, export-promotion impact of the policies outweighed the import-substitution impact of those policies
3
3. Heavy & Chemical Industry Drive in the 1970s(1)
A massive investment program in heavy and chemical industries focusing on steel, non-ferrous metal, machinery, shipbuilding, electronics and chemical industries. The investment drive included the celebrated cases of construction of the Seoul-Busan Express Highway (1970) and the Pohang Steel Complex (1974). Korean construction industry made a major inroad into the Middle East market The government also worked hard to stimulate the rural economy. In 1971, President Park launched the Saemaul or New Village Movement
4
3. Heavy & Chemical Industry Drive in the 1970s(2)
Economic development efforts in the 1960s and the 1970s, however, were directed under the authoritarian leadership of President Park who very coercively suppressed democracy movement as well as the labor rights.
Students’ street demonstration and the labor movement gathered strength to create socio-political crisis. The heavy and chemical industrialization drive had other consequences.
This suppressed the development of the banking sector, and the government has created Korea’s Chaeboldomina


Full Text
Title Korea's policy path toward sustainable development
Similar Titles
Sub Title

Key reforms and drivers by stage

Material Type Proceedings
Author(English)

Young, Soogil

Publisher

Seoul:KDI School of Public Policy and Management

Date 2014-06
Event

KDI-WBI-CAG Policy Forum

Pages 20
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Social Development < General
Holding KDI School of Public Policy and Management