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ID number:697306
 
Evaluation:
Published: 08.09.2004.
Language: English
Level: Secondary school
Literature: n/a
References: Not used
Extract

Brief Economic History and Government Policy
Korea was one of the poorest countries in world after experiencing two wars. World War II and Korean war (1950 ~ 1953). The country even experienced a food shortage so that it had to heavily rely on the foreign aid. Yearly per capita consumption was a mere $88 as late as 1965. However, since 1965, Korea has been transformed from its underdeveloped agricultural economy to a leading Newly Industrializing Country. Between 1965 and 1981, its gross national product GNP multiplied twenty times from $3 billion to $63 billion and per capita GNP increase…

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