After the Korean War (1950–53), South Korea transformed from a largely agrarian economy into a major industrial and technological power. Beginning under Pres. Park Chung-Hee in the 1960s, the government pursued export-oriented industrialization and invested heavily in infrastructure and education. Large family-controlled conglomerates known as chaebols, including Samsung and Hyundai, became major engines of manufacturing and economic growth. South Korea’s rapid economic development became known as the “miracle on the Han River.”
verifiedCite
While every effort has been made to follow citation style rules, there may be some discrepancies.
Please refer to the appropriate style manual or other sources if you have any questions.
Select Citation Style