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South Korean Economic Model

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Post by confuzzled dude Sun Jul 06, 2014 9:35 pm

In less than 50 years South Korea has transformed from a poor nation to a rich one. How did they do it? much of this has been due to the success of Chaebol; Samsung, LG, Hyundai all are household names now. They went against American suggestion of focusing on small to medium sized companies; didn't appear to rely much on FDIs either. They did benefit from loans and grants form US & Japan, but for the most part turned their fortunes around due to strong leadership & vision. They did face corruption issues in due course but took pragmatic approach than cracking down with no commonsense. Wonder if this can be replicated elsewhere?

confuzzled dude

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