1 / 16

Korea

Korea. Politics & Economy after 1945. Korea Today. Chaebols. Park: The Five Year Plans. Rhee: Government Led Development. Brief Political History. Outline. The 38 th Parallel & The Korean War. 1945 End of Japan Rule. 1905 – Russo-Japanese war ended, Korea protectorate of Japan

rex
Download Presentation

Korea

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Korea Politics & Economy after 1945

  2. Korea Today Chaebols Park: The Five Year Plans Rhee: Government Led Development Brief Political History Outline The 38th Parallel & The Korean War 1945 End of Japan Rule

  3. 1905 – Russo-Japanese war ended, Korea protectorate of Japan 1910 – Japan-Korea Annexation treaty Colonial Mercantilism – Japan provided modern infrastructure, ports, factories, hospitals, schools, rail, mines, etc Land seizure, cultural repression & little opportunity for Koreans to obtain higher education 1945 – End of 35 year colonial Japanese Rule Korea up to 1945

  4. 1896 - first suggested as a dividing line for Korea by Russia 1945 (Aug) - US State-War Navy Coordinating Committee establishes 38th Parallel 1948 - became the boundary between the newly independent countries of North and South Korea 1953 - demarcation line established through the middle of the DMZ The 38th Parallel

  5. Japan settled as fort to prevent soviet influence Japan is the region’s stabilized government & economy US heavily invested in Japan’s economic development Special procurements amounted to 27% of Japan’s total export trade Cooperation of manufacturers, suppliers, distributors and banks is what led to the keiretsu and enterprise unions The Korean War (1950 – 1953)

  6. Brief Political History 1994 Kim II Sung 1945 Syngman Rhee (1945-1960) Park Chung Hee (1961-1979) Chun Doo Hwan (1981-1988) Roh Tae Woo (1988-1993) Kim Young-sam (1993-1998)

  7. Korea’s Economic Development

  8. Under Rhee: Land Reform June 1949 – 1 million share croppers became land owners Dissolved landlord class Shift to entrepreneurial opportunities for past landlords Accelerated urbanization of Korea 11.6 % in 1940 24.4 % in 1955 28.3 % in 1960 Investment in Human Capital • Education opportunities extensively expanded after WWII • Empowered Koreans with opportunity for upward mobility • Primary education universal for both boys & girls by 1960 • 75% Universities established by private foundations Government Led Development

  9. Under Park: “Miracle on the Han” Government led initiatives in economic development. Main Goals: Establish self reliant industrial economy Nationalize bank to facilitate direct control all over business community Create hybrid approach between import substitution and export driven growth Government Led Development

  10. Under Park: Five Year Plans Transition from import substitution industrialization to export driven growth First Five-Year Economic Development Plan (1962-66) Self Sufficient Structure The Second Five-Year Economic Development Plan (1967- 71) Modernizing the industrial structure building import substitution industries The Third Five-Year Economic Development Plan (1972-76) “Big Push”(1992-96) Development of export-oriented structure Korea’s Economic Development

  11. Latter Five Year Plans The Fourth Five-Year Economic Development Plan (1977-81) Development of industries to compete effectively with world’s industrial export markets The Fifth Five-Year Economic and Social Development Plan (1982-86) Shifting industry focus to Technology-intensive industries The Sixth Five-Year Economic and Social Development Plan (1987-91) Phasing out of direct assistance from government, refocus to training workforce to meet the needs of all industries. The Seventh Five-Year Economic and Social Development Plan (1992-96) Development of high-technology fields Korea’s Economic Development

  12. Chaebols 'octopus with many tentacles' Massive conglomerates Comparative to Japan’s keiretsu and zaibatsu Spawned from leftover Japanese assets Majority controlled by families Government provided support to aid growth Key part of Korea’s fast development Korea’s Economic Development

  13. Korea’s Economic Development Chaebols

  14. Chaebolsdown arrows Stagnates innovation Prevents foreign investment Hides losses within the unit Daewoo bankruptcy—$80B in losses Corruption is prevalent Samsung—tax evasion, Hyundai—stealing funds, SK—fraud Too reliant on the government’s protection Asian Financial crisis Korea’s Economic Development

  15. Conclusion Takeaways

  16. Questions ? Korean Unification Flag

More Related