Analysis of the Korean Economy

4243 WordsJan 11, 201117 Pages
Introduction South Korea’s history, strategic location, and political relations in the past and today, have created an economy which is one of the strongest in Southeast Asia. “According to the World Bank, in the last 30 years, South Korea’s economy is one of the most outstanding success stories in international development.” (Globaled, p.1). Dating from the Japanese occupation of South Korea , from 1910 thru 1946, then the division of the peninsula enforced by the United States of America and the Union of Soviet Socialist Republics after Japan’s unconditional surrender during WWII; the Republic of Korea (ROK) had gone throughout drastic changes in its social, economic, and political structure, but in the 1960s, under the regime…show more content…
The WWII allies had convene that Korea would become free and independent after the war. The United States and The Soviet Union had agreed to divide Korea at the thirty-eight parallel. There was a plan to drive Korea to a democratic nation as a wholesome, but disagreements on what type of government should run the new country between USA and USSR blocked the negotiations and to the day the Korean Peninsula still divided. The though of leaving Korea divided did not seat well in the population minds. “The prospect of perpetuating the division of Korea catapulted some of the southern political leaders to action, significantly altering the political configuration there. The choice they faced was between immediate independence at the price of indefinite division, or postponement of independence until the deadlock between the United States and the Soviet Union was resolved.” A divided economy With the division of the Korean Peninsula at the thirty-eight parallel came complete chaos to the region. Back when the Japanese occupied and dominated Korean society and economy, most Koreans were forced to leave their land because the Japanese had expropriated it. Employment was not where in the horizon for these farmers. Hundreds of thousand farmers and worker left Korea looking for new opportunities in China, Japan and Manchuria. With the
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