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Heavy and chemical industrialization(HCI) policy as a mega-policy

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  • Heavy and chemical industrialization(HCI) policy as a mega-policy
  • Soh, Changrok
  • Seoul National University(Graduate School of Public Administration)


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Title Heavy and chemical industrialization(HCI) policy as a mega-policy
Similar Titles
Material Type Articles
Author(English)

Soh, Changrok

Publisher

[Seoul]:Seoul National University(Graduate School of Public Administration)

Date 2004
Journal Title; Vol./Issue Korean Journal of Policy Studies:vol. 18(no. 2)
Pages 17
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < General
Holding Seoul National University

Abstract

The objective of this paper is to show how the Heavy and Chemical Industrialization (HCI) policy during the period of 1972-79 in Korea constituted a Mega-policy. The Mega-policies are intersectoral, require the creation of new institutions, generate new expectation, and engender new paradigms. This paper traces its development, explores how the policy emerged, and how the policy affected numerous sectors of the Korean economy. The influence of this policy on the later development of Korean economy had been substantial. The combination of government support and huge investments by the chaeboll is a result of this policy. Despite the success of Korean economy in the 1980s, the legacy of the HCI Mega-policy persists and casts doubt on future prospects for Korean economic development.