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Korea's development experience since the 1960s

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Frame of Image 0)   economic disruption; complementarity lost Lower priority on economic development Import substitution in some industries 3 President Park (1961-79) Strong Commitment to Economic Development  Coming to power through military coup: with “delivering people from poverty” as one of the key pledges  New planning machinery: Economic Planning Board (EPB) & 5-Year Economic Development Plan   Largely free from interest group pressure & corruption Close monitoring of the economy: monthly meetings for reviewing economic conditions & export performance  Partnership with big businesses: strong incentives provided with close monitoring 4 Korea over the Last 5 Decades 1961 2014 Per Capita GNI (USD) Commodity Exports (USD) Employment Share (%) Agriculture, Forestry & Fish. Mining & Manufacturing Life Expectancy Enrollment Rate (%) 82 41 mil. 63.0 (1963) 8.7 (1963) 55.3 (1960) 28,180 573 bil. 5.7 17.0 27.6 (’90) 81.9 (‘13) Senior High Schools Universities/Colleges 29.3 (1970) 9.0 (1970) 93.7 67.8 71.0 (’11) 5 Changes in Industrial Structure 2014 2.3 2010 2005 2000 4.4 1995 1990 8.4 1985 1980 15.9 1975 1970 1965 0% 30.5 67.2 29.3 66.3 28 25.6 63.6 58.4 39.4 20% 40% 20.1 60% 40.5 80% Services 6 100% Agriculture Mining & manufacturing Key Functions of EPB (1961-96)  Development planning: setting investment priorities Coordination of economic policies among “economic ministries” for policy coherence Budget preparation Control of mobilizing & distributing foreign capital (later transfer


Full Text
Title Korea's development experience since the 1960s
Similar Titles
Material Type Proceedings
Author(English)

Nam, Sang-Woo

Publisher

[Sejong] : KDI School of Public Policy and Management
Date 2015
Event

Korea Study Tour for Government Officials of SICA

Event [Workshop] Korea Study Tour for Government Officials of SICA Member Countries
[Workshop] 2017 Myanmar Statistical Training Program
Pages 40
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Social Development < Education
Social Development < Employment
Holding KDI School
License