The Economy of South Korea


South Korea, a highly developed and wealthy economy that opitomises the story of a modern Asian nation that has made the transition from a very poor to very rich in less than a human lifetime.

The nation is today a glistening beacon of technological innovation that in many fields leads the world in highly productive and profitable industries. The nation is also a great case study that shows that good economic management is far more important than natural resource wealth in determining the success of a nation by looking at the success of south Korea, which is completely devoid of almost any resources, and then comparing it to it basket-case brother to the north, which has been blessed with a cornucopia of natural resources.

#southkorea #chaebol #economics

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References –

Lie, J., 2000. Han unbound: The political economy of South Korea. Stanford University Press.

Koo, H., 1984. The political economy of income distribution in South Korea: The impact of the state’s industrialization policies. World Development

Haggard, S., Kim, B.K. and Moon, C.I., 1991. The transition to export-led growth in South Korea: 1954–1966. The Journal of Asian Studies

Kalinowski, T. and Cho, H., 2009. The political economy of financial liberalization in South Korea: State, big business, and foreign investors. Asian Survey

Kong, T.Y., 2013. The politics of economic reform in South Korea: A fragile miracle. Routledge.

Campbell II, T.L. and Keys, P.Y., 2002. Corporate governance in South Korea: the chaebol experience. Journal of corporate Finance,

Chang, C.S., 1988. Chaebol: The South Korean Conglomerates. Business Horizons,

Bierstaker, J.L., Seol, I., Albrecht, C., Turnbull, C., Zhang, Y. and Skousen, C.J., 2010. The relationship between South Korean chaebols and fraud. Management Research Review.

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