Кореяның Халық өркендеуі: Хан дариясының кереметі

Rapid economic growth of South Korea

The Miracle on the Han River (hangul=한강의 기적) refers to the period of rapid economic growth in South Korea, following the Korean War (1950–1953), during which South Korea transformed from a least developed country to a developed country. The rapid reconstruction and development of the South Korean economy during the latter half of the 20th century was accompanied by events such as the country's successful hosting of the 1988 Summer Olympics and its co hosting of the 2002 FIFA World Cup, as well as the ascension of family owned conglomerates known as chaebols, such as Samsung, LG, and Hyundai. This growth also encompassed declines in child mortality and increases in life expectancy. From 1961 to 1979, child mortality declined by 59%, the second fastest decrease in child mortality of any country with over 10 million inhabitants during the same period. South Korea during this period has been described as "corporatist" or as practicing state capitalism. This period of growth was overseen by the Democratic Republican Party (DRP), a conservative, broadly state capitalist and nationalist party. The growth has been attributed to the hard work of the labor force. External factors include the enormous economic and technical assistance provided by foreign countries, particularly Japan (see: Treaty on Basic Relations Between Japan and the Republic of Korea) and the United States, access to Western and Japanese markets, and the acquisition of foreign currency by Korean migrant workers in the early stages of economic growth. Following the Miracle on the Han River, South Korea has been held as an economic model for other developing countries and acceded to the G20 in November 2010, capping a successful sixty some years of rebuilding and modernization.

The Han River is a major river which runs through Seoul. In the early 1960s, South Korean politicians admired what they called the "Miracle on the Rhein": the surprising postwar economic growth of West Germany, which is often called the Wirtschaftswunder ("economic miracle"). In his 1961 New Year's address, Chang Myon, prime minister of the Second Republic of South Korea, used the phrase to encourage South Koreans in achieving a similar economic upturn. He said:

The division of territory as a result of the Korean War further damaged Korean property by 25% and resulted in the establishment of the First Republic of South Korea, ruled by the Syngman Rhee administration until 1960. At this time, the economy was largely agricultural.

When a military coup in 1961 led by general Park Chung hee overthrew the Democratic Party, the result was a military junta known as the Supreme Council for National Reconstruction (SCNR). During this time, the first national Five Year Plan (1962–1966) was implemented, becoming an important factor in the Miracle on the Han River. It aimed to develop the nation's economy through expansion of agriculture and energy industries such as coal and electric power; development of basic industries such as chemical fertilizer, cement, oil refinery, iron, and steel; expansion of social overhead capital including roads, railways, and ports; full utilisation of idle resources including increased employment; conservation and utilisation of land; export promotion to improve the balance of payments; and promotion of science and technology. While this first Five Year Plan did not bring about an immediately self reliant economy, it brought a period of growth and modernization in preparation for long term economic success and policy reform. Park's motto of "treating employees like family" has been credited with increasing productivity within the South Korean workforce and thus as contributing to the nation's economic success. Park's national reputation as a leader has met mixed receptions: while praised for his contributions to South Korea's economic recovery, The government used this money to accomplish a self supporting economy, launching the Saemaeul movement in order to develop rural areas. The strong leadership of the government (though criticized as repressive and heavy handed) as well as the effective use of cheap labor served as catalysts for the growth of the South Korean economy.

During the Fourth Republic, with the government backing heavy industries, electronics and steel industries flourished. Another benefit of government backing was the freedom for leaders in the industrial sector to spend money without feeling constrained by a budget due to the government's commitment to keep the business running. Money subsequently came pouring into the economy as consumer confidence in heavy industries grew. With the help of governmental help and associations, chaebols are still an enormous influence on the Korean economy, though they are also accused of inhibiting small businesses or independent entrepreneurship as unethical behavior and corrupt practices. The Kim Young sam government attempted to assist small businesses during its five year term from 1993 to 1998 by providing more loans, but this did not deter the expansion of the chaebols. In 1992, Korea received the maximum rating of 100 on both wage rates and tax burdens or lack thereof (with Spain the next highest at 71, and the United States third at 55). In other words, the Korean state still fosters huge profits and other rewards for its large business conglomerates.