Korea’s Economic Development

  • Sung-Hee JwaEmail author


This chapter traces in details the economic evolution of Korea from the very early times to the present. The author explains how Korea’s developmental era in the 1960s to 1980s was characterized by strong economic discrimination led by President Park Chung Hee. The chapter discusses in some details also Korea’s macroeconomic management as well as corporate policies during the developmental era as well as in the post-“economic democratization” era in late-1980s under various regimes up to the 2000s, over which time economic and social policies have increasingly been influenced by egalitarianism. The 1997–1998 Asian financial crisis when Korea faced unprecedented economic woes and its aftermath are also treated in details.


Pre- and post-Park Chung Hee era Government-led discrimination Egalitarian trap Economic democratization Financial crisis Ecomomic discrimination by market, government and corporation 


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Copyright information

© The Author(s) 2017

Authors and Affiliations

  1. 1.Park Chung Hee Memorial FoundationSeoulKorea (Republic of)

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