The Economic Development of South Korea
The Economic Development of South Korea

Author: Seung-hun Chun

Publisher: Routledge

Published: 2018-01-29

Total Pages: 460

ISBN-13: 1351215728

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How did a country with a dearth of natural resources, a sprawling population congested in a limited arable land transform itself to a modern industrial state within a generation? How could these have been achieved given the lingering geopolitical threats to its very survival as a state, as evidenced by the Korean War and the internecine aggressive posturing of its neighbor from the north? This book looks at strategies, institutional arrangement, role of entrepreneurs and workers in this odyssey, and on how those factors have worked together through effective leadership to transform South Korea’s economic fortunes.

Doing Business 2018
Doing Business 2018

Author: World Bank

Publisher: World Bank Publications

Published: 2017-11-14

Total Pages: 1217

ISBN-13: 1464811474

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Fifteen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2018 measures aspects of regulation affecting 10 areas of everyday business activity: • Starting a business • Dealing with construction permits • Getting electricity • Registering property • Getting credit • Protecting minority investors • Paying taxes • Trading across borders • Enforcing contracts • Resolving insolvency These areas are included in the distance to frontier score and ease of doing business ranking. Doing Business also measures features of labor market regulation, which is not included in these two measures. The report updates all indicators as of June 1, 2017, ranks economies on their overall “ease of doing business†?, and analyzes reforms to business regulation †“ identifying which economies are strengthening their business environment the most. Doing Business illustrates how reforms in business regulations are being used to analyze economic outcomes for domestic entrepreneurs and for the wider economy. It is a flagship product produced in partnership by the World Bank Group that garners worldwide attention on regulatory barriers to entrepreneurship. More than 137 economies have used the Doing Business indicators to shape reform agendas and monitor improvements on the ground. In addition, the Doing Business data has generated over 2,182 articles in peer-reviewed academic journals since its inception. Data Notes; Distance to Frontier and Ease of Doing Business Ranking; and Summaries of Doing Business Reforms in 2016/17 can be downloaded separately from the Doing Business website.

Re-Inventing Africa's Development
Re-Inventing Africa's Development

Author: Jong-Dae Park

Publisher: Springer

Published: 2018-12-31

Total Pages: 456

ISBN-13: 3030039463

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This open access book analyses the development problems of sub-Sahara Africa (SSA) from the eyes of a Korean diplomat with knowledge of the economic growth Korea has experienced in recent decades. The author argues that Africa's development challenges are not due to a lack of resources but a lack of management, presenting an alternative to the traditional view that Africa's problems are caused by a lack of leadership. In exploring an approach based on mind-set and nation-building, rather than unity – which tends to promote individual or party interests rather than the broader country or national interests – the author suggests new solutions for SSA's economic growth, inspired by Korea's successful economic growth model much of which is focused on industrialisation. This book will be of interest to researchers, policymakers, NGOs and governmental bodies in economics, development and politics studying Africa's economic development, and Korea's economic growth model.

The Park Chung Hee Era
The Park Chung Hee Era

Author: Byung-Kook Kim

Publisher: Harvard University Press

Published: 2011-04-01

Total Pages: 753

ISBN-13: 0674061063

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In 1961 South Korea was mired in poverty. By 1979 it had a powerful industrial economy and a vibrant civil society in the making, which would lead to a democratic breakthrough eight years later. The transformation took place during the years of Park Chung Hee's presidency. Park seized power in a coup in 1961 and ruled as a virtual dictator until his assassination in October 1979. He is credited with modernizing South Korea, but at a huge political and social cost. South Korea's political landscape under Park defies easy categorization. The state was predatory yet technocratic, reform-minded yet quick to crack down on dissidents in the name of political order. The nation was balanced uneasily between opposition forces calling for democratic reforms and the Park government's obsession with economic growth. The chaebol (a powerful conglomerate of multinationals based in South Korea) received massive government support to pioneer new growth industries, even as a nationwide campaign of economic shock therapy-interest hikes, devaluation, and wage cuts-met strong public resistance and caused considerable hardship. This landmark volume examines South Korea's era of development as a study in the complex politics of modernization. Drawing on an extraordinary range of sources in both English and Korean, these essays recover and contextualize many of the ambiguities in South Korea's trajectory from poverty to a sustainable high rate of economic growth.

South Korea’s Industrial Development Since the Early 1960s
South Korea’s Industrial Development Since the Early 1960s

Author: Sang-Woo Nam

Publisher: Emirates Center for Strategic Studies and Research

Published: 2020-02-12

Total Pages: 19

ISBN-13: 9948341791

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The paper examines the remarkable growth of the South Korean economy from the early 1960s to the early 2000s. This paper provides an overview of South Korea’s industrial development process, with a particular emphasis on the heavy and chemical industries’ drive in the 1970s and the impact of educational expansion and investment on technological capabilities. The paper shows how this economic growth was primarily due to an export- oriented industrialization strategy and consistent upgrades to industrial infrastructure and systems to remain competitive in the global market. One of the most important policies pursued by the government was the development of the country's human potential. The paper argues that without this investment, it would have been impossible for South Korea to emerge as one of the most innovative economies in the world. These achievements are attributable to the vision of the political leadership, a supportive government, the hard work of entrepreneurs and others who contributed their valuable human resources. It also examines the 1997 foreign exchange crisis, its causes, and impact on South Korea, as well as the lessons learned, and new policies enacted in its aftermath. The rapid build-up of industrial capabilities was the result of a substantial reduction in investment risks with comprehensive government support for financing, infrastructure, technology and manpower development. However, this also made South Korea's large multi-national industrial companies (chaebols) reckless in fiscal policies. Furthermore, a concentration of economic power and chaebol's putting family interests first — remains a cause of serious socio-political tension in South Korea. The paper concludes that South Korea’s industrial development since the early 1960s include: strong political leadership with vision and a strong commitment to economic development; industrial policy with a focus on promoting heavy and chemical industries; state-chaebol development partnership; and huge investment in human capital and technological capabilities.

Industrial Development in Singapore, Taiwan, and South Korea
Industrial Development in Singapore, Taiwan, and South Korea

Author: Kai-Sun Kwong

Publisher: World Scientific

Published: 2001

Total Pages: 287

ISBN-13: 9812810064

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Economic analysis of the industrial experiences of the newly industrialized economies in Asia is generally lacking in the literature. This study attempts to fill that void by providing an in-depth discussion on the economic impact of the industrial policies of Singapore, Taiwan, and South Korea in the three-and-a-half decades after 1960. Throughout the study, a broad perspective of macroeconomic development is maintained. It is highly critical of the narrow-minded objective of certain governments in maximizing the pace of industrialization at the expense of general economic well-being. A comparative analysis of the industrial experiences of the three economies also shows a diversity of constraints and processes. Singapore relied on multinational corporations, Taiwan on returned engineers, and South Korea on chaebols. There appears to be no Asian formula for industrialization. In Hong Kong, there is an ongoing debate on whether some form of industrial policy should be introduced, in view of the perception that Hong Kong is lagging behind the other economies in terms of technology. Drawing on the experiences of the other economies, the concluding chapter of the book provides an informed and balanced answer to this question. Contents: Singapore: Dominance of Multinational Corporations; Taiwan: Thriving High-Technology Industries and SME; South Korea: Government-Led Development and the Dominance of Giant Corporations; Comparison Among Singapore, Taiwan, and South Korea; Strategic Considerations in the Hong Kong Context. Readership: Researchers, policy-makers and undergraduates in economics and East Asian Studies.

Asia's Next Giant
Asia's Next Giant

Author: Alice Hoffenberg Amsden

Publisher: Oxford University Press, USA

Published: 1989

Total Pages: 400

ISBN-13: 9780195076035

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South Korea has been quietly growing into a major economic force, even challenging Japan in some industries. This growth may be seen as an example of "late industrialization" and this book discusses this point.

Park Chung Hee and Modern Korea
Park Chung Hee and Modern Korea

Author: Carter J. Eckert

Publisher: Harvard University Press

Published: 2016-11-07

Total Pages: 511

ISBN-13: 0674659864

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Conclusion -- Notes -- Korean MMA Cadets by Class -- Glossary of Names and Terms -- Bibliography -- Sources and Acknowledgments -- Index

Human Capital and Development
Human Capital and Development

Author: Ju-Ho Lee

Publisher: Edward Elgar Publishing

Published:

Total Pages: 431

ISBN-13: 1786436973

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During recent decades, Korea has been one of only a handful of countries that have made the successful transformation to become a developed nation by simultaneously achieving persistent economic growth combined with a democratic political system. Experts and political leaders worldwide have attributed this achievement to investments in people or, in other words, the power of education. Whilst numerous books have highlighted the role of industrial policies, technological growth, and international trade in Korea’s development process, this is one of the first to focus on the role of human capital. It shows how the accumulation of human capital aided transformation and helps explain the policies, strategies and challenges that Korea faces now and in the future.

The Korean Automotive Industry, Volume 1
The Korean Automotive Industry, Volume 1

Author: A. J. Jacobs

Publisher: Springer Nature

Published: 2021-12-10

Total Pages: 418

ISBN-13: 3030863476

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In 1962, South Korea assembled just 1,100 new automobiles. By 1996, this total had soared to 2,812,714. What explains this remarkable growth? The answer is complex, and involves a combination of a supportive State, timely technology alliances, a skilled but historically low-paid workforce, aggressive pricing, savvy entrepreneurs, and fortuitous circumstances. Despite this amazing ascent, comparatively little has been written about the Korean auto industry in English. In the first of a two-volume set, this 11-chapter book seeks to help fill this void by providing in-depth examinations of all six of Korea’s automakers from their beginnings through 1996. Uniquely written from the perspective of industry analysts at the time (without knowledge of the Asian Fiscal Crisis), the book should prove informative to practitioners, scholars, and students interested in automotive history, international political economy, Asian studies, and more.