Korea Poverty

711 Words3 Pages
Our modern world of business is one that is wealthier than its ever been before, and countries seem to be experiencing ground breaking economic growth, however this was not always the case and many countries have fought very hard to reach the economic success they have today. With billions of people on earth, there are billions of wealthy, and billions of people living in horrible poverty. For a long time, Korea was considered a country full of extreme poverty, suffering the effects of war, with very limited resources to survive. Many wondered if Korea would ever be able to blossom with its struggles in the early 1950s. More than 60 years later, South Korea’s economy has grown immensely and become a prominent figure in the international market, with one of the world’s best economies. The biggest question with South Korea is: how did one of the poorest countries in the world manage to escape the desperate grips of poverty? And achieve such incredible success, what efforts and strategy were made to bring Korea out of poverty?
In 1945 Korea gained independence from of Japan, however, the country was now split between North and South Korea and it was not long before the Korean war soon broke out leaving South Korea without a chance at rebuilding their economy. While the country experienced millions of casualties, the Korean War left the newly formed Korean republic in a state of peril. During South Korea’s efforts in restoring their country, they
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