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Productivity led growth for Korea

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  • Productivity led growth for Korea
  • McKinsey Global Institute, McKinsey Seoul Office
  • McKinsey Global Institute


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Title Productivity led growth for Korea
Similar Titles
Material Type Reports
Author(English)

McKinsey Global Institute, McKinsey Seoul Office

Publisher

Seoul; Washington:McKinsey Global Institute

Date 1998-03
Pages 456
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Industry and Technology < General
Holding MGI

Abstract

Korea’s impressive growth performance over the past 25 years has been part of what is described as the East Asian miracle. Korea’s real income per capita has increased five-fold from $2,500 in 1970 to $12,600 in 1995. The financial crisis of late 1997 has brought this miracle to an abrupt end, raising questions of future prospects for the Korean economy.

The purpose of this study is to shed light on Korea’s medium and long term growth potential by building on a detailed industry-level understanding of Korea’s current performance. During our year-long research project, we analyzed how the prevailing regulatory environment has affected the performance of Korean companies relative to world best practice in eight key industries: automotive, steel, telecommunications, food processing, semiconductors, retail banking, general merchandise retail, and housing construction. (The rest omitted)