Subject and Keywords:
South Korea was not always associated with wealth, modernity and advanced technology. Not even half a century ago, Korea was a poorly developed country mainly focused on agriculture and fishing. GDP per capita was one of the lowest in Asia and the world. One of the significant, if not the most important, factor of South Korea’s economic development was the expansion of the industrial sector, which is currently the strength of the Korean economy and its position in the global division of labor. Industry share in GNP South Korea increased from 14% in 1961 to 28% in 2005, and the share of the agricultural, forestry and fisheries sectors in this period fell from 37% to 3.5%. The South Korean industry is also one of the most technologically advanced in the world. The history of the last 40 years in South Korea is a story about one of the fastest civilizational leaps in the history of the world. During the lifetime of only one generation from a vastly backward, completely devastated, extremely poor country, Korea has advanced to the club of the richest and most technologically advanced countries in the world. So where is the impressive rise? How did Koreans in 1988 perfectly organize the Seoul Olympics, and today in many areas successfully compete with the powerful Japan, the USA and the leading European countries?