Compared to other countries in the world such as Britain which underwent
industrialization in the 18th and 19th centuries, Korea was very slow in changing from its
agrarian society into an industrial society with “technical enterprises and other productive
economic activities” . Apart from other reasons, the domination of Japan and the Korean War
which bombarded the country to its death were the most prominent ones. However despite
other countries’ expectations, president Park Jung Hee, also a military general who ruled the
country from 1961 to 1979, was able to not only recover Korea from the wars, but also place
the country as one of the greatest economic countries in the whole world. Although many
people still criticize him …show more content…
In this process, the two
countries established separate governments in Korea, the United States in the South and
Soviet in the North, and being not able to come up with an agreement, the North Korea, with
the Soviet Union and China on their back, invaded the South . It was the start of the Korean
War. The war lasted for 3 years, and finally the armistice was signed between the two nations
on 27th, July, 1953. The consequences of the 3 years of war were devastating. According to
the U.S. reports, “about one million South Koreans were killed or went missing in the conflict,
85% of them civilians” . Also, “More than 80% of the industrial and public facilities and
transportation infrastructure, three-quarters of all government buildings, and half of all
housing was destroyed” . Looking at the conditions of Korea after the war, General Douglas
Macarthur, the U.S. General who fought in the Korean War, predicted “It will take them 100
years to recover from the devastation” .
However unlike what the General had predicted, Korea made a tremendous
improvement with its industry and economy, and has become one of the greatest …show more content…
Seeing no hope in agriculture society, despite the disagreements from the
opposition parties due to enormous cost expenses, President Park built a highway that
connected two most important cities in Korea, Seoul and Pusan, which became the base of
births of automobile companies such as Hyundai and Kia. Also, he left a quote “Steel is
national Power”, and focused on developing iron and steel companies . He immediately
instituted a Iron Steel company in the city Pohang, which was later named as POSCO . By
developing this steel industry, Korea’s economy developed rapidly by satisfying the country’s
citizens by the quality of the steel and this led to the increased demand of steel, which
consequently led to exports around the world. Although it looks rather simple, the process
was never easy. It took more than seven years for the firm to produce quality satisfying steel.
Moreover relating with the reparations from Japan stated above, this business shows why
they were necessary. The United States unsatisfied with the dictating rule of President Park,
refused to support the industry by lending the right capital, technologies, or
industrialization in the 18th and 19th centuries, Korea was very slow in changing from its
agrarian society into an industrial society with “technical enterprises and other productive
economic activities” . Apart from other reasons, the domination of Japan and the Korean War
which bombarded the country to its death were the most prominent ones. However despite
other countries’ expectations, president Park Jung Hee, also a military general who ruled the
country from 1961 to 1979, was able to not only recover Korea from the wars, but also place
the country as one of the greatest economic countries in the whole world. Although many
people still criticize him …show more content…
In this process, the two
countries established separate governments in Korea, the United States in the South and
Soviet in the North, and being not able to come up with an agreement, the North Korea, with
the Soviet Union and China on their back, invaded the South . It was the start of the Korean
War. The war lasted for 3 years, and finally the armistice was signed between the two nations
on 27th, July, 1953. The consequences of the 3 years of war were devastating. According to
the U.S. reports, “about one million South Koreans were killed or went missing in the conflict,
85% of them civilians” . Also, “More than 80% of the industrial and public facilities and
transportation infrastructure, three-quarters of all government buildings, and half of all
housing was destroyed” . Looking at the conditions of Korea after the war, General Douglas
Macarthur, the U.S. General who fought in the Korean War, predicted “It will take them 100
years to recover from the devastation” .
However unlike what the General had predicted, Korea made a tremendous
improvement with its industry and economy, and has become one of the greatest …show more content…
Seeing no hope in agriculture society, despite the disagreements from the
opposition parties due to enormous cost expenses, President Park built a highway that
connected two most important cities in Korea, Seoul and Pusan, which became the base of
births of automobile companies such as Hyundai and Kia. Also, he left a quote “Steel is
national Power”, and focused on developing iron and steel companies . He immediately
instituted a Iron Steel company in the city Pohang, which was later named as POSCO . By
developing this steel industry, Korea’s economy developed rapidly by satisfying the country’s
citizens by the quality of the steel and this led to the increased demand of steel, which
consequently led to exports around the world. Although it looks rather simple, the process
was never easy. It took more than seven years for the firm to produce quality satisfying steel.
Moreover relating with the reparations from Japan stated above, this business shows why
they were necessary. The United States unsatisfied with the dictating rule of President Park,
refused to support the industry by lending the right capital, technologies, or