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Themes

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Comprehensive one-stop references on key development issues of Korea

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  • Image of Korea’s Stabilization Policies in the 1980s

    Korea’s Stabilization Policies in the 1980s


    Korea is well-known for its rapid economic development since the 1960s. Indeed, the economy took off with a series of 5-year development plans led by the President Park’s regime. The average annual growth rate during the two decades recorded almost 10 percent, which pushed up per capita income from below US$ 100 in 1960 to around US$ 1,700 in 1979. The whole society was truly dynamic and became more and more confident of its own economic success.

  • Image of Deposit Insurance System in Korea

    Deposit Insurance System in Korea


    The deposit insurance system has been established at the end of 1995 in Korea and has been operated since then. Events during the Asian financial crisis of 1997 and the global financial crisis of 2007-2008 have demonstrated the importance of effective depositor protection schemes.
    The adoption of an explicit deposit insurance system is considered a way of either containing financial crises, or creating one of the important pillars of modern financial safety nets in the liberalized and globalized financial system.

  • Image of White Revolution of Agriculture in Korea: The Achievement of Year-round Production and Distribution of Horticultural Crops by the Expansion of Greenhouse Cultivation

    White Revolution of Agriculture in Korea: The Achievement of Year-round Production and Distribution of Horticultural Crops by the Expansion of Greenhouse Cultivation

    ‘White Revolution’ as the period of modernization of structure, material and technology for greenhouse to achieve the rapid expansion of protected cultivation area and stable supply of vegetables, from 1970s to 1990s. Although there has been an abundance of discussion to define (or issues related to the achievement in the process of) ‘White Revolution’ in Korean agriculture.

  • Image of Expressway Construction and Management

    Expressway Construction and Management

    The Korean Civil War lasted for three years in the early 1950s and it caused devastating damage on all sections of Korea. In 1953, ninety-seven percent of roads were not paved and the GDP per capita was less than USD 100. Even though ten years passed after the truce of the War in the early 1960s, the economic situation as well road condition were not quite different. The first priority of the Korean government at that time was to revitalize the nation through establishing the export-oriented economy system. To pursue this national policy efficiently in medium- and long-terms, the government set up the first Five-Year Economic Development Plan (FYEDP) in 1962. The first FYEDP had achieved unexpectedly high economic growth rates. The growth rate was merely 3.5 percent in 1962, however, it increased to 9.1 percent in 1963 and it reached to 13.4 percent in 1966.

  • Image of Structural Adjustment Policies of Korea’s Coal Industry

    Structural Adjustment Policies of Korea’s Coal Industry

    In the process of economic growth, some industries are declining because of losing competitiveness. It is desirable to move inefficiently-used resources of the declining industry to a more productive industry. In the case of high exit barriers existing in the declining industry, the government may execute adjustment policies. In general, adjustment policies comprise measures for re-employing laborers employed in the declining industry, disposal or transfer of facilities and revitalization of the community where the declining industry is located. In Korea, the adjustment policies of the coal industry proceeded rapidly from the latter part of the 1980s to the early part of the 1990s.

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