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Improvement in Living Standards in the 1960–1970s and Economic Development in Korea

  • Sok Chul HongEmail author
Chapter

Abstract

Korea achieved a remarkable economic growth in the 1960–1970s after its economic foundation was ruined by Korean War (1950–53). This rapid growth is generally called as the ‘Miracle on the Han River’. During the miraculous period, Korea achieved not only economic growth, but also a remarkable improvement in the standards of living including control of diseases, expansion of educational opportunities, increase in consumption, reduction of inequalities and so on. The improvement in living standards in the 1960–1970s has been a significant foundation that has led to a successful economic development today.

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Copyright information

© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  1. 1.Seoul National UniversitySeoulRepublic of Korea

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