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Korea's economic development in historical perspective, 1945-1990

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  • Korea's economic development in historical perspective, 1945-1990
  • Eckert, Carter J.
  • The University of Mississippi


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Title Korea's economic development in historical perspective, 1945-1990
Similar Titles
Material Type Reports
Author(English)

Eckert, Carter J.

Publisher

Mississippi,U.S : The University of Mississippi

Date 2017
Pages 21
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Economy < Economic System
Holding The University of Mississippi
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Abstract

The development of the South Korean economy is one of the great stories of the post-World War 2 era. It is a tale whose drama is heightened by breathtaking contrast; a per capita GNP of about US$ 100 in 1963 versus a figure of nearly US$5,000 as the year 1990 began; a war-ravaged Seoul of gutted buildings, rubble, beggar, and orphans in 1953 versus the proud, bustling city of the 1988 Summer Olympics with its skyscrapers, subways, plush restaurants boutiques, first-class hotels, and prosperous middle class; a country abjectly dependent on foreign aid in the 1950s versus a 1980s economic powerhouse- a factory to the world for everything from clothes, shoes, and electronic goods to steel, ships, and now even automobiles and semiconductors. Given these remarkable facts, it is not surprising that many popular writers and even a few scholars have taken to calling South Korea’s economic transformation “the miracle on the Han”