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South Korea

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Frame of Image  than twelve-fold to more than US$13 000 in 2005. Moreover, its GDP per capita increased from US$67 in 1953 to US$20 050 in 2007 (Suh & Chen 2007: 6). As Table 4 below shows, in 1960 South Korea’s GDP per capita was twice that of subSaharan Africa’s, but in 2005 it was almost 24 times as much, reflecting the divergence of development in South Korea and sub-Saharan Africa respectively.
Table 4 Comparative GDP per capita: South Korea, sub-Saharan Africa, OECD (US$)
Year 1960 1980 2005 South Korea 1 110 3 221 13 210 Sub-Saharan Africa 430 583 560 OECD 9 137 17 710 29 376
Source: Grubb et al. (2006); Suh and Chen (2007)
Current economic policy favours a continued strong manufacturing sector with a higher technological base, rather than a significant shift towards the service sector. There has however been significant expansion of knowledge-based industries, both in manufacturing and in the service sector in recent years. In 2000, high- and medium-technology and knowledge-intensive manufacturing represented a higher proportion of total gross value-
South Korea
The economic policies that have underpinned this growth have emphasised the development of a vigorous, export-orientated manufacturing industry, with a progressive shift towards high technology. South Korea remains more dependent upon manufacturing than nearly all Organisation for Economic Cooperation and Development (OECD) countries. In 2003, manufacturing accounted for 26% of gross value-added, a figure exceeded only by Ir


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Title South Korea
Similar Titles
Material Type Books
Author(English)

Pillay, Pundy

Publisher

[City of Cape Town]:Centre for Higher Education Transformation

Date 2010
Pages 26
Language English
File Type Documents
Original Format pdf
Subject Economy < General
Social Development < Education
Holding CHET
Recipient Country South Korea(Asia and Pacific)

User Note

Title: Linking higher education and economic development
Chapter 4 title: South Korea