Can I read South Korea's Economic Development, 1948–1996 | Oxford Research Encyclopedia of Asian History on EtoBox?

South Korea's Economic Development, 1948–1996 | Oxford Research Encyclopedia of Asian History by Michael J. Seth is a nonfiction available to read on EtoBox.

What is South Korea's Economic Development, 1948–1996 | Oxford Research Encyclopedia of Asian History about?

At its independence in 1948, South Korea was an impoverished, predominately agricultural state, and most of the industry and electrical power was in North Korea. It faced a devastating war from 1950 to 1953, and an unpromising and slow recovery in the years that followed. Then, from 1961 to 1996, South Korea underwent a period of rapid economic development, during which it was transformed into a prosperous, industrial society. During these years, its economic growth rates were among the highest in the world. Under the military government of Park Chung Hee (Pak Chǒng-hǔi), which came to power in 1961, the state gave priority to economic development, focusing on a combination of state planning and private entrepreneurship. Possessing few natural resources, it depended on a low wage, educated, and disciplined labor force to produce goods for exports. As wages rose, economic development shifted from labor to capital-intensive industries. Focusing initially on textiles and footwear, South Korean manufacturing moved into steel, heavy equipment, ships, and petrochemicals in the 1970s, and electronics and automobiles in the 1980s. Two major reforms under the administration of Syngman Rhee

Who reads South Korea's Economic Development, 1948–1996 | Oxford Research Encyclopedia of Asian History?

Author

Michael J. Seth

Publisher

IRL Press at Oxford University Press

Published

2017

Language

EN

ISBN

9780190277727

Category

nonfiction

Subjects

History, Asian History, Humanities