Korea's Economic Miracle.

James H. Hayes

Expert InsightsPublished 1975

A report of the author's recent visit to Korea, and a comparison of Korea's present industrial growth with its economic status when the author was there in 1951, 1961, and 1968. Per capita income has increased from $74 to $500 per year. The Pohang steel mill complex is the most modern in the world, employing the latest techniques in computerized production and control. Impressive gains have been made in electronics, cement, automobiles, fishing, agriculture and heavy machinery. The increase in the standard of living is visible in villages with paved roads and televisions. The population has doubled since the Korean War due to better public health conditions and more available medical care. Korea's goal is to become the leading industrial power in Asia. She needs and deserves U.S. support. 4 pp.

Document Details

  • Copyright: RAND Corporation
  • Availability: Web Only
  • Year: 1975
  • Pages: 4
  • Document Number: P-5529

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Hayes, James H., Korea's Economic Miracle. Santa Monica, CA: RAND Corporation, 1975. https://www.rand.org/pubs/papers/P5529.html.
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