What factors assisted the rapid development of Korean industry and agriculture since the early 1960’s?What factors assisted the rapid development of Korean industry and agriculture since the...

What factors assisted the rapid development of Korean industry and agriculture since the early 1960’s?

What factors assisted the rapid development of Korean industry and agriculture since the early 1960’s? 

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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South Korea's government was one of the major factors in the growth of the economy.  South Korea adopted a policy that was not unlike that of Japan.  Its government strongly supported certain types of businesses, particularly those that would export.  In this way, it was sort of a state-directed capitalism that was behind this rapid development.

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