United States. Central Intelligence Agency

Summary

United States. Central Intelligence Agency CIA World Fact Book, 2004 — Korea… (2004)

Since the early 1960s, South Korea has achieved an incredible record of growth and integration into the high-tech modern world economy. Four decades ago GDP per capita was comparable with levels in the poorer countries of Africa and Asia. Today its GDP per capita is 18 times North Korea's and equal to the lesser economies of the European Union. This success through the late 1980s was achieved by a system of close government/business ties, including directed credit, import restrictions, sponsorship of specific industries, and a strong labor effort.
Source: Wikisource

United States. Central Intelligence Agency CIA World Fact Book, 2004 — Korea… (2004)

Korea was an independent kingdom under Chinese suzerainty for most of the past millennium. Following its victory in the Russo-Japanese War in 1905, Japan occupied Korea; five years later it formally annexed the entire peninsula. After World War II, a republic was set up in the southern half of the Korean Peninsula while a Communist-style government was installed in the north. During the Korean War (1950-1953) , US and other UN forces intervened to defend South Korea from North Korean attacks supported by the Chinese.
Source: Wikisource

United States. Central Intelligence Agency CIA World Fact Book, 2004 — Korea… (2004)

The government promoted the import of raw materials and technology at the expense of consumer goods and encouraged savings and investment over consumption. The Asian financial crisis of 1997-99 exposed longstanding weaknesses in South Korea's development model, including high debt/equity ratios, massive foreign borrowing, and an undisciplined financial sector.
Source: Wikisource

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