Analysis of the economic downturn after the post-war devastation and the Korean War. The main problems of the industrial sector in Korea. Carrying out large-scale economical reforms in the 1980s. Implementation of the restructuring of large companies.
Political Economy of Development, Korea and East Asia Bekmamat Alimzhanov Koreas economic development Korea came to World War II as one of the worlds poorest countries with a predominantly agricultural economy. The post-war devastation and the Korean War did not contribute to the sustainable development of the economy. The government of Lee Syn Man was based on economic aid to foreign countries, particularly the United States. The national economy was in decline, incomes were very low. After the division of Korea into two parts - North and South Korea - long-standing relationships collapsed between the agrarian South and industrial North. South Korea was deprived of such industries as metallurgy, chemical, cement. In the south were concentrated industries of light and food. The Korean War finally undermined the countrys economy. After the war, the allies of the South, with the assistance of the government developed a plan to promote the South Korean economy. The United States provided in the 1954-1959 years o
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