Korea’s rapid economic rise and lessons for developing economies

  • 2011-06-08
By Jin Hong RIM, Cultural attaché at the Embassy of the Republic of KoreaThe government program to support the heavy and chemical industries drive took various forms. They included, but were not limited to, allocating long-term credits with low interest rates and offering various tax incentives to the selected industries, establishing vocational schools to supply skilled manpower and creating government-funded research institutions to support these industries.The drive had a few distinguishing features worth mentioning. First of all, the drive was implemented with a clea...
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