Five Year Plans for Economic Development
Five year Plans for Economic Development
After the 6.25 war, most of all production institution was in ruin condition, so the South Korea economic had to start off with a clean state. In 1950s, Korea could survive based on U.S.A’s support, but when the international balance of payments and the budget deficit expanded, U.S.A had to announce to Korea that they will reduce the amounts of the support. For this reason, the president of South Korea, Park Jung Hee, who seized the power through staging a coup strongly, claimed that development of Korea economy is the most important point. In brief, he was the president for 16 years in South Korea. The president Park Jung Hee propelled Five year Plans for Economic Development to secure the legitimacy of South Korea. The Five year Plans for Economic Development contributes to development and urbanization of South Korea. However, it not only brought positive points to South Korea, but also brought lots of negative points which affected to Korean economy.
The Five year Plans for Economic Development was a successful project. Through this project, the GNP which was below one hundred dollar in 1961 rose up to ten thousand dollar
Sang 2 in 1995. After the World War 2, even though many countries made an effort to get out from the colony and the condition of the underdevelopment, there were no countries that made a remarkable growth of industry such as South Korea.
There are main factors why Five year Plans for Economic Development was successful project. Lots of politicians of South Korea, including the president Park Jung Hee, contributed to the economic growth with their strong will and they developed the potential powers of citizens. Although Park Jung Hee did cruel actions and oppressed the masses by force of arms, he could strongly carry forward an economy policy based on the political stability. It was possible to control the disturbance and confusion through the division of vice-premier called the Economic
After the 6.25 war, most of all production institution was in ruin condition, so the South Korea economic had to start off with a clean state. In 1950s, Korea could survive based on U.S.A’s support, but when the international balance of payments and the budget deficit expanded, U.S.A had to announce to Korea that they will reduce the amounts of the support. For this reason, the president of South Korea, Park Jung Hee, who seized the power through staging a coup strongly, claimed that development of Korea economy is the most important point. In brief, he was the president for 16 years in South Korea. The president Park Jung Hee propelled Five year Plans for Economic Development to secure the legitimacy of South Korea. The Five year Plans for Economic Development contributes to development and urbanization of South Korea. However, it not only brought positive points to South Korea, but also brought lots of negative points which affected to Korean economy.
The Five year Plans for Economic Development was a successful project. Through this project, the GNP which was below one hundred dollar in 1961 rose up to ten thousand dollar
Sang 2 in 1995. After the World War 2, even though many countries made an effort to get out from the colony and the condition of the underdevelopment, there were no countries that made a remarkable growth of industry such as South Korea.
There are main factors why Five year Plans for Economic Development was successful project. Lots of politicians of South Korea, including the president Park Jung Hee, contributed to the economic growth with their strong will and they developed the potential powers of citizens. Although Park Jung Hee did cruel actions and oppressed the masses by force of arms, he could strongly carry forward an economy policy based on the political stability. It was possible to control the disturbance and confusion through the division of vice-premier called the Economic
References: S YOUNG JOON KIM, THE KOREA BRAND. “HAVE U EVER HEARD ABOUT FIVE YEAR PLANS FOR ECONOMIC DEVELOPMENT?” WEB. JANUARY 01. 2011