SOUTH KOREA

South Korea is one of the new Asian tigers and accordingly to Ronald Rumsfeld the Republic of Korea is an impoverish and devastated nation over a half a century ago, now has one of the most powerful economies and is an important democracy with a large increasingly capable armed forces . This all started during 1990s South Korea was one of the poorest country which its GDP only consist of 79 in which the Philippine GDP is much higher than the South Korea. The Korea had suffered over 30 years under Japan Brutal occupation after Japans defeat in World War II the newly independent Koreans were unprepared for the Korean war in 1950 were the North Korea made a surprise attack to the Republic of Korea the division of their nation and the war left the Korea ruined the people had nothing ,were thousands of starving beggars and orphans scavenge the land millions were jobless, homeless , wounded or dead the reality was harsh there had been no economic growth since their independence in 1945 and the two prior economic administration were unproductive and corrupt and in addition the North Korean surpassing them in every aspect of their economy. Rights and protest echoed through the streets everyday communist threats were at their high and the people did not trust the corrupt government the country was also suffering from a huge deficit but with the assistance of the United States the war stop with an agreement were the demilitarized Zone establish. This Demilitarize Zone is an area in which treaties or agreements between nations, military powers or contending groups forbid military installations, activities or personnel. A DMZ often lies along an established frontier or boundary between two or more military powers or alliances. When the third Republic occur this 79 GDP were able to change by Park Chung Hee which is also known as the Miracle

Worker of Han River where he was able to lift up the economy of South Korea with the help of the West Germany which agree to send 140 million marks in exchange of work force of nurses and miners thousands were volunteer to send to west Germany. Their sacrifices started the modernization of South Korea economy. Pres. Park divide his plan into 3 phases 1st phase which is industrialization were building of harbours , roads, communication system, water Processing, Railroads etc. and also the construction of textile, cement ,fertilizer, Farming and other basic industries. This phase is the rise of the Development of the South Korea from the invasion and through the Korean war and also Pres. Park used wisely these economic aid that had been given to them by the West Germany. And we think these phase is the start of Modernization of the South Korea or the rebuild of theyre nation. Additional economic aid arrive after a diplomatic talk with Japan finish during 1965 after this negotiation were South Korea gained $600 million economic aid these allowed Pres. Park to expand Koreas industry however, there is a great public uproar due to Japans risen occupation on Korea . In 1965 Pres. Park gained more help with the start of Vietnam War when Americas ask South Korean government to join the fight Pres. Park saw opportunity to rebuilt-ties with the US and gain their economic support . This war played substantial role in South Koreas economy where they were able to get American aid and also modern military weapons and another thing this war promoted the South Koreas export in return for their economy .Having the increase of their economic growth rate Pres. Park began the movement called new village program to revitalize the South Koreas country side. He used the government fund to clear the depts. Of thousands of farmers and fisherman then he modernized the country side were modern houses replace the old while Machinerys replace the manual work its not only greatly

raised both economic productivity and standard of living for the people in country side but it also allowed Koreas economy to ever strong Foundation The 2nd phase is Pres. Park invested in steel. They engage in steel in order to build ship , electron & chemical industries where he was able to build industrial center around the country South Korea now began to move away from agricultural nation to a more diverse industrial economy It is a good choice in engaging in steel because we all know steel can provide many things such as ship and planes where they can export or ship theyre products and goods to other countries. rd 3 Phase was human resources were Pres. Park encourage sex trading In order to generate revenue particularly from the US military Camp town sex industry which gain higher of its GNP. The government registered these prostitutes as the western princess and required them to carry medical certification I guess during these days human Rights are un-existed because if human rights are existed I guess the authority would not allowed Pres. Park on this sex trading. On our opinion we would disagree on this sex trading cause for us its like they are sacrificing these female Korean just for the sake of having a higher GNP. There are many ways and means to have a higher GNP by using Human resources but not by engaging in Sex trading just like Japan they use Human resource in good way by sending their people or students to other countries to have a better Quality of education and after years past these students will come back to Japan with the knowledge on how to develop more their country. And by during 1970-1980 South Korea became the leading producer of ships which the one of it 4 largest ship building is

Hyundai which is the largest ship building. The automobile industry is one of South Koreas major growth and import. 2 main leading companies Samsung LG Another automobile producer which is the Hyundai-kia which is Koreas largest out-maker they also invest in overseas construction most of them in middle east which 60% of work were undertaken by the South Korean construction companies. Because of South Koreas remarkable technological advancement & industrialization allowed South Korea to produce increasingly remarkable military equipment. Were during past years South Korea were largely dependent on the U.S to supply its own military equipment but with the elaboration with the president of Vietnam South Korea were able to manufacture its own weapon. Because of this South Korea became one of the fastest growing economy and its economy continued as a stable & strong both in GNP and GDP. Yet when the Asian financial crisis occur South Koreas economy suffered on bankruptcy and relied on the bailout of the IMF that were able to reconstruct and modernize South Korea economy. Now South Korea is being ranked as the 15th place in the world nominal GDP. In conclusion Park Chung Hee was able to Influence every aspect of the Korean economy the importance of his economic Development and his success is in measurable all of Koreas current industries corporations and companies achievements are resolves of his actions. Pres. Park supported his country economy with unreserve aid with his dreams and ideas he set the foundation for the future As on what we could see now South Korea was truly a development country from their tourism in which were able to help them to increase their economy millions are visiting South Korea due to the increase of popularity of the Korean Wave or hallyu (Korean

actors, Korean performers) and Seoul is the principal tourist destination and from the outside of Seoul are the Seorak-san national park, the historic city of Gyeongju and semi-tropical Jeju Island. And another is their Automobile industry which were their many beneficiaries in helping them to increase their economy.

REFERENCES(LINK):

http://www.youtube.com/watch?v=Rra4_Glgw10 http://en.wikipedia.org/wiki/Economy_of_South_Korea