Korea S Economic Miracle

Korea, one of the original 'Tiger Economies', experiences a traumatic and largely unanticipated economic crisis in 1997-98 from which the country is still recovering. Despite having achieved spectacular economic advances from the early 1960s, the crisis laid bare numerous structural, economic and policy weaknesses. Charles Harvie and Hyun-Hoon Lee chronicle and analyze the key factors behind Korea's economic miracle from 1962-1989 and the causes that contributed to the economic downturn and ensuing crisis of 1997-98. Is the Korean economy still fading or is its revival underway? As the country undertakes a series of recovery measures, the authors consider the importance of the ongoing restructuring efforts in the corporate and banking sectors, the development of the 'new economy; and the potential economic advantages to be derived from reunification with the North.

This book explores the historical and economic development of South Korea, its culture, as well as the benefits, opportunities and challenges that German companies have faced in their cooperation with South Korean enterprises. More specifically, it juxtaposes economic-miracle markets such as Japan and West Germany, which rose from the ashes after the Second World War with the help of a century of bustling industrial age, with South Korea, which developed from virtually nothing. The book also addresses why South Korea’s history, geography, society, culture and economic capabilities remain widely unknown and unnoticed among westerners, despite South Korean companies being among the global market leaders in a number of industries, particularly in the automobile and hardware segments. Written from the point of view of a seasoned business expert on the country, Economic Miracle Market South Korea is essential reading for business and economics research academics looking to improve their knowledge of this relatively unknown “success story”, as well as for practitioners in industry looking to optimize their dealings with South Korean business partners.

Very few developing countries have successfully industrialised. Many are under pressure from international organisations to achieve 'self-sustainable' industrialisation. This is why Korea's case is particularly interesting. There have been many attempts to explain the causes of Koreas' economic miracle. These have focused mainly on the internal factors such as the discipline of the Korean workforce and export-promotion policies. The present study however shows that these factors contributed to Korea's impressive growth but do not explain the reasons for her success. External factors have been more important, the Japanese economy in particular. This book examines therefore in detail the impact of Japan's economic growth on the Korean economy, in particular the stimulating effects of trade, sub-contracting, relocation of industry, investment, loans and technology transfer. It demonstrates how Japan provided a range of goods, services and capitals which were precisely what the newly industrialising country needed.

"The economic growth of South Korea has been a remarkable success story. After the Korean War, the country was one of the poorest economies on the planet; by the twenty-first century, it had become a middle-income country, a member of the Organization of Economic Cooperation and Development (the club of advanced economies), and home to some of the world’s leading industrial corporations. And yet, many Koreans are less than satisfied with their country’s economic performance, given the continuing financial volatility and sluggish growth since the Korean economic crisis of 1997–1998.From Miracle to Maturity offers a comprehensive qualitative and quantitative analysis of the growth of the Korean economy, starting with the aggregate sources of growth (growth of the labor force, the stock of capital, and productivity) and then delving deeper into the roles played by structural change, exports, foreign investment, and financial development. The authors provide a detailed examination of the question of whether the Korean economy is now underperforming and ask, if so, what can be done to solve the problem."

This title was first published in 2002: South Korea represents both rapid and multi-faceted industrialization. It is this unique combination that has made the country so interesting to academics from diverse disciplines. This text presents a coherent, unified account employing both quantitative and qualitative methods and historical and empirical analyses, providing a common ground on which academic disciplines can meet.

South Korea represents both rapid and multi-faceted industrialization. It is this unique combination that has made the country so interesting to academics from diverse disciplines. This text presents a coherent, unified account employing both quantitative and qualitative methods and historical and empirical analyses, providing a common ground on which academic disciplines can meet.

Economic growth and modernization, economic policy since 1961, Korea R - agricultural development, industrial development, educational development, political development, social development; economic resources, industrial structure, horizontal integration, labour relations, operational management, etc. Bibliography and photographs.