Skip to main content Accessibility help
×
Hostname: page-component-7bb8b95d7b-l4ctd Total loading time: 0 Render date: 2024-10-03T15:11:38.099Z Has data issue: false hasContentIssue false

3 - Some Lights in the Dark

Published online by Cambridge University Press:  07 December 2023

Jaymin Lee
Affiliation:
Yonsei University, Seoul
Get access

Summary

The period from 1945 to 1960 was a mixture of the darker aspects of the time and the brighter aspects of the succeeding period. While there were disorder, division, and war, many of the conditions for the subsequent development were provided during this period. South Korea became an exception among the ex-colonies by escaping from socialism and being closely integrated with advanced capitalist countries. The country built a system whereby private enterprises faced workers with poor labor rights while carrying out the land reform. After the war, the growth rate was not impressive, as the prevalent government failure made it impossible to overcome the market failure. Yet import-substituting industrialization proceeded, through which chaebol emerged as a major player in the economy. The country implemented disinflation, enhanced education level, and began to promote exports, providing a condition for future growth, but the former two rather helped precipitate a crisis in 1960.

Type
Chapter
Information
Publisher: Cambridge University Press
Print publication year: 2023

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

  • Some Lights in the Dark
  • Jaymin Lee, Yonsei University, Seoul
  • Book: The Tortuous Path of South Korean Economic Development
  • Online publication: 07 December 2023
  • Chapter DOI: https://doi.org/10.1017/9781009419352.003
Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

  • Some Lights in the Dark
  • Jaymin Lee, Yonsei University, Seoul
  • Book: The Tortuous Path of South Korean Economic Development
  • Online publication: 07 December 2023
  • Chapter DOI: https://doi.org/10.1017/9781009419352.003
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Some Lights in the Dark
  • Jaymin Lee, Yonsei University, Seoul
  • Book: The Tortuous Path of South Korean Economic Development
  • Online publication: 07 December 2023
  • Chapter DOI: https://doi.org/10.1017/9781009419352.003
Available formats
×