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From apparels to chips : Korea's 20-year industrial development

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  • From apparels to chips
  • Ko, Jeong-Min
  • Samsung Eonomic Research Institute


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Title From apparels to chips
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Sub Title

Korea's 20-year industrial development

Material Type Reports
Author(English)

Ko, Jeong-Min

Publisher

[Seoul]:Samsung Eonomic Research Institute

Date 2006-07
Pages 6
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < General
Holding SERI

Abstract

Korea's industry has been exposed to ever-intensifying global competition from the mid 1980s. The government enacted Industrial Development Act in 1986 to promote growth on the private-sector initiatives. Since then, Korea has steadily retreated from the protectionist policy in favor of increased opening and competition. As economic environment changed rapidly, Korea shifted its main engine of growth from light industries such as textile to heavy industries geared to producing iron and steel, cars, ships and machinery. From the 1970s to the early 1980s, light industries such as textiles and apparels drove the economy. From the late 1980s, however, heavy industries such as car-making became the locomotive of industrial development. Since the late 1990s, Korea's industrial growth is increasingly fuelled by the information technology sector based on production of semiconductors and telecommunications equipment. Besides the manufacturing sector, aiding the economic growth have been the construction industry and communications service industry. (The rest omitted)