South Korea is a country with a very tough background. They went through occupations, dispossessions and humiliation during the last 100 years, which makes this country a really impressive example of how economies can achieve a successful position in the world.
It has positioned itself in the world system from one of the poorest countries in the world to one of the most successful ones. We will examine what South Korea values are regarding not only today´s economy globally but also nationally. We will focus on the history and development of South Korea as well as the Northeast Asian Tiger Economy. We will take a closer look at the history of the country from the very beginning of an exploited country to a rising development, throughout the time of industrialization, leading to democratization and the crisis of the state economy.
Table of Contents
1. Introduction
2. What is a Tiger Economy?
3. The way to a „Tiger Economy”
3.1 Japanese occupation (1919-45)
3.2 Soviet Union & the U.S.
3.3 The Korean War (1950-1953)
4. The growth
4.1. Industrialization
4.1.1 Formation and success of South Korea
4.1.2 Limits of the “developmental state” (1979-1987)
4.2 Democratization (1987 – 1993)
4.3 New strategies (1993 – 1997)
4.3.1 Sunshine policy
5. The crisis
5.1 Economy and the financial crisis
5.2 Effects from the crisis on economy
5.3 Social consequences of the crisis
5.4 Characteristics of the South Korean labor market
5.5 Governmental reactions because of the unemployment
6. The situation during the last decade
7. Conclusion
8. Bibliography
Objectives and Key Themes
This paper examines the extraordinary economic transformation of South Korea, tracing its journey from a nation devastated by conflict and occupation to a globally successful "Tiger Economy." The study analyzes the historical, political, and economic phases—including industrialization, democratization, and the 1997 Asian financial crisis—that shaped its current status.
- Historical evolution of South Korea from exploitation to independence.
- The role and influence of the "developmental state" model and "chaebols."
- Economic impact of industrialization and export-oriented strategies.
- Challenges and social consequences faced during the 1997 Asian financial crisis.
- Political developments and modern economic transition strategies.
Excerpt from the Book
3.1 Japanese occupation (1919-45)
During this time Japan used Korea as a colony for food supply for their own country. The Japanese colonial rule also branded the Korean way of life - sometimes positively and sometimes negatively. Japan used the Korean peninsula as a low price industrial location and also as a component supplier for their own industrial structure. Because of that, the infrastructure and industrial structures grew. However, most of the companies and buildings were in the north of the country. The Japanese government also invested a lot of money in education and in the health system. It´s important to mention that they did not do this because they wanted to help Korean people. The reason behind this was their own selfishness. They tried to train them to become patriotic Japanese. There was a time where it was forbidden to use Korean writing, Korean language and also Korean names.
With all the brutality such as torture, executions, rape, killing, humiliation and loss that the Japanese brought with them, they left a country with physical and psychological pain. During the period of the Japanese occupation Koreans were continually spied on. With their surveillance and control they tried to oppress the Korean population to ensure there was no resistance on their side. Harsh punishment was the consequence of subversive behavior. For this reason, Koreans remained quiet to keep the peace in the country and for themselves. Japan attempted to make Korea part of its own nation.
Summary of Chapters
1. Introduction: This chapter outlines the paper's focus on South Korea's economic development and its emergence as a "Tiger Economy" despite historical obstacles.
2. What is a Tiger Economy?: This section defines the term in the context of the rapid industrialization observed in East Asian countries between the 1960s and 1990s.
3. The way to a „Tiger Economy”: This chapter covers the historical background, including the Japanese occupation, the influence of the U.S. and Soviet Union, and the Korean War.
4. The growth: This section details South Korea's path to industrialization, the role of the "developmental state," and key strategies like the "Sunshine policy."
5. The crisis: This chapter analyzes the 1997 Asian financial crisis, its causes, effects on the labor market, and the government's subsequent responses.
6. The situation during the last decade: This section provides an overview of recent developments, including free-trade agreements and political shifts up to 2012.
7. Conclusion: This chapter summarizes the findings on the South Korean model, noting its successes and remaining structural weaknesses.
Keywords
South Korea, Tiger Economy, Industrialization, Developmental State, Chaebol, Asian Financial Crisis, Export-oriented economy, Democratization, Economic Growth, Labor Market, Globalization, Sunshine Policy, Foreign Investment, Economic Reform, Korean Peninsula.
Frequently Asked Questions
What is the core focus of this research paper?
The paper focuses on the economic development of South Korea, examining how the nation transformed from a post-war, impoverished country into a leading global economy.
What are the primary themes discussed in the work?
Key themes include the historical impact of the Japanese occupation, the developmental state model, the influence of large conglomerates known as "chaebols," and the impact of the 1997 Asian financial crisis.
What is the ultimate objective of this study?
The objective is to explain the phases of development South Korea underwent and identify the circumstances that allowed for its rapid economic upswing.
Which methodology is utilized in this paper?
The paper uses a descriptive historical and economic analysis, reviewing key events and developmental phases to assess the country's economic evolution.
What topics are covered in the main body of the text?
The main body covers historical events (occupation, war), the growth era (industrialization, developmental state policies), the financial crisis of 1997, and modern political-economic developments.
Which keywords best characterize this document?
The document is best characterized by terms such as South Korea, Tiger Economy, Chaebol, Industrialization, and Developmental State.
What role did the "chaebols" play in the economic development of South Korea?
Chaebols were instrumental in the rapid industrialization and export-driven strategy, though their concentration of power also contributed to economic vulnerabilities and corruption.
What was the significance of the "Sunshine policy" introduced in the text?
The Sunshine policy represented a major shift in diplomatic approach, aiming to peacefully solve the separation between North and South Korea through economic and humanitarian aid.
- Arbeit zitieren
- Philip Leithner (Autor:in), Isabelle Kischa (Autor:in), 2016, South Korea. History and economical development, München, GRIN Verlag, https://www.hausarbeiten.de/document/342801
