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Evolution of South Korea's Politics And Economy
South Korea (official name: Republic of Korea) was proclaimed as a separate country in 1948 following World War II and the partitioning of the Korean peninsula between the occupying forces of the United States and the Soviet Union. It had very few natural resources, and was among the poorest countries of the world at the time. The country was further devastated in the 1950s following the war with North Korea. Since the mid-1960s, South Korea has achieved remarkable economic progress and except for a major hiccup during the Asian economic crisis of 1997, the economic growth has been consistently high. In sharp contrast to its impressive economic development, the political development of the country has lagged far behind. This essay compares and contrasts the evolution of South Korea's politics and economics and briefly examines the causes for such an anomaly.
The initial decades of the country's existence were the era of the Cold War and intense rivalry between the competing ideologies of Communism and Capitalism. Since the early leaders of the country were staunchly anti-Communist, their number one priority was suppression...
It was perhaps natural that in such a charged political environment, authoritarian rather than liberal policies took roots. Syngman Rhee, who was elected president of South Korea in 1948, ruled the country with an increasingly iron hand. He even used troops to force the legislature and ensure his second term in office. The post WWII foreign policy of the United States was dictated by the over-riding concern for containing Communism and it did little to encourage liberal democracy in Korean politics, considering authoritarianism as the "lesser evil."
The country's economy was in a bad shape in the initial years mainly because the division of the Korean peninsula in 1945 was not based on a balanced economic division. While most of the natural resources and heavy industries (developed by the Japanese during their occupation) were concentrated in the North, the South contained agricultural land, a large labor force and little natural resources. The Korean War further disrupted the economy. The country's economy only began to improve in the 1960s under President Park Chung Hee, who introduced…
References
CIA -- the World Factbook." (2003) South Korea. [Available online]. Retrieved on October 29, 2003 at http://www.cia.gov/cia/publications/factbook/geos/ks.html#Econ
South Korea." (2003) Article in Encyclopedia Encarta. CD-ROM Version, 2003.
Why Invest in Korea?" (2003) Investment Public Relations Team. [Available online]. Retrieved on October 29, 2003 at http://www.kisc.org/servlet/KiscUK1USub01Q-MENU_ID=%23WNWKISC&LANG=2&SITE_ID=KISC&ITEM_ID=001454
South Korea." (2003) Encarta article. Para on Syngman Rhee and the Second Republic
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