South Korea is a country with a very tough background. They went through occupations, dispossessions and humiliation during the last 100 years, which makes this country a really impressive example of how economies can achieve a successful position in the world.
It has positioned itself in the world system from one of the poorest countries in the world to one of the most successful ones. We will examine what South Korea values are regarding not only today´s economy globally but also nationally. We will focus on the history and development of South Korea as well as the Northeast Asian Tiger Economy. We will take a closer look at the history of the country from the very beginning of an exploited country to a rising development, throughout the time of industrialization, leading to democratization and the crisis of the state economy.
Table of Contents
- Introduction
- What is a Tiger Economy?
- The way to a „Tiger Economy“
- Japanese occupation (1919-45)
- Soviet Union & the U.S
- The Korean War (1950-1953)
- The growth
- Industrialization
- Formation and success of South Korea
- Limits of the "developmental state" (1979-1987)
- Democratization (1987 – 1993)
- New strategies (1993 - 1997)
- Sunshine policy
- Industrialization
- The crisis
- Economy and the financial crisis
- Effects from the crisis on economy
- Social consequences of the crisis
- Characteristics of the South Korean labor market
- Governmental reactions because of the unemployment
- The situation during the last decade
Objectives and Key Themes
This paper aims to explain the phases South Korea underwent to achieve its current economically strong position, analyzing the circumstances that contributed to its success. It examines the nation's journey from a poor country to one of the "Asian Tigers," exploring the historical background and economic upswing. The paper also considers potential areas for improvement.
- The transformation of South Korea into a "Tiger Economy."
- The historical context and impact of events like the Japanese occupation and the Korean War.
- The role of industrialization and subsequent economic policies in South Korea's development.
- The challenges faced by South Korea, including economic crises and their societal implications.
- The evolution of the South Korean government and its influence on the nation's economic trajectory.
Chapter Summaries
Introduction: This introductory chapter sets the stage by presenting South Korea as a "model state" with a complex past. It highlights the nation's remarkable economic rise from poverty to becoming a "Tiger Economy," despite significant historical obstacles. The chapter emphasizes the paper's goal to analyze the various phases of South Korea's development and the factors contributing to its success, posing questions about the origins of the economic boom and potential areas for improvement.
What is a Tiger Economy?: This chapter defines the term "Tiger Economy," characterizing it as the rapid transformation of developing nations into highly industrialized economies with significant economic growth and improved living standards. It uses the analogy of a tiger preparing to leap to symbolize this rapid growth. The chapter clarifies that South Korea is one of the original four Asian Tiger economies (along with Hong Kong, Taiwan, and Singapore), highlighting its export-oriented economic model and its ranking among the world's largest exporters and importers. The chapter also briefly mentions other countries referred to as "Tiger Economies," but the focus remains firmly on South Korea's unique economic development.
The way to a „Tiger Economy“: This chapter delves into the historical journey of South Korea, starting from the early 20th century under Japanese occupation. It details the Japanese annexation and its impact on Korea's sovereignty. The chapter highlights the territorial dispute over Liancourt Rocks/Dokdo/Takeshima as an early example of the challenges Korea faced due to foreign interference. The Russo-Japanese War is also discussed as a pivotal moment showcasing the powerlessness of Korea amidst the interests of larger nations. Ultimately, the chapter sets the historical stage for understanding the subsequent phases of South Korea's economic development, emphasizing the country's struggle for independence and the weight of its historical burden.
Keywords
South Korea, Tiger Economy, economic development, industrialization, democratization, Japanese occupation, Korean War, economic crisis, export-oriented growth, developmental state, Asian Tigers.
Frequently Asked Questions: South Korea's Path to a Tiger Economy
What is the overall focus of this document?
This document provides a comprehensive overview of South Korea's economic development, tracing its journey from a post-war, impoverished nation to one of the "Asian Tiger" economies. It examines key historical events, economic policies, and challenges faced along the way.
What topics are covered in the table of contents?
The table of contents includes sections on the definition of a "Tiger Economy," the historical context leading to South Korea's economic growth (including the Japanese occupation and Korean War), the phases of its economic growth and industrialization, the economic crisis and its societal impacts, and a summary of the last decade's economic situation.
What are the key objectives and themes explored?
The document aims to explain the phases of South Korea's economic transformation, analyzing the factors contributing to its success. Key themes include the impact of historical events, the role of industrialization and economic policies, the challenges faced (including economic crises and their social consequences), and the evolution of the South Korean government's role in economic development.
What is a "Tiger Economy," and how does South Korea fit this description?
A "Tiger Economy" refers to the rapid transformation of developing nations into highly industrialized economies with significant economic growth and improved living standards. South Korea is considered one of the original four Asian Tiger economies, characterized by its export-oriented growth model and its position as a major global exporter and importer.
What historical events significantly influenced South Korea's economic trajectory?
The Japanese occupation (1919-1945) and the Korean War (1950-1953) are highlighted as pivotal historical events that shaped South Korea's economic development. The document also touches upon the Russo-Japanese War and territorial disputes as factors impacting the nation's early history and sovereignty.
What role did industrialization and economic policies play in South Korea's success?
The document emphasizes the crucial role of industrialization and subsequent economic policies in South Korea's economic growth. It explores the "developmental state" model and its limitations, as well as the adoption of new strategies in later phases of development.
What challenges did South Korea face during its economic development?
The document discusses economic crises and their impact on the South Korean economy and society. It also analyzes the characteristics of the South Korean labor market and government responses to unemployment resulting from economic downturns.
What is the "Sunshine Policy," and when was it implemented?
The "Sunshine Policy" is mentioned as a key strategy implemented between 1993 and 1997 as part of South Korea's evolving economic policies. Further details are not provided in the summary.
What are the key chapters and their summaries?
The document includes chapter summaries for the Introduction (setting the context and goals), "What is a Tiger Economy?" (defining the term and South Korea's role), and "The way to a ‘Tiger Economy’" (detailing the historical context, including Japanese occupation and the Korean War).
What are the key words associated with this document?
Keywords include: South Korea, Tiger Economy, economic development, industrialization, democratization, Japanese occupation, Korean War, economic crisis, export-oriented growth, developmental state, Asian Tigers.
- Quote paper
- Philip Leithner (Author), Isabelle Kischa (Author), 2016, South Korea. History and economical development, Munich, GRIN Verlag, https://www.grin.com/document/342801
