Korean Job Discussion Forums

[le-paul]

I read somewhere a while back, that after the korean war, Japan pumped a lot of money into the korean market/economy to get it started/back on its feet again.
However, I cant find my source of information on this.
Can anyone tell me where this may be sited, recommend some reading/internet - anything at all?

Thanks v. much.

[northway]

http://en.wikipedia.org/wiki/Miracle_on_the_Han_River

[Junior]

Re- development would imply that Korea was being industrialised for the second time.

Just use the word "development".

[Binch Lover]

You could be thinking of the treaty which normalized relations between Japan and Korea, signed in 1965 when Park Chung Hee was in power. It was highly controversial in Korea at the time, but included a large amount of money paid by Japan to Korea as a kind of reparation for the colonial period. It paid for lots of infrastructure like the Gyeongbu Expressway linking Seoul to Busan (which most people thought was an insane project at that point in Korea's development) amongst others.

This is a wikipedia reference, which claims that Japan paid $800m in grants and soft loans: http://en.wikipedia.org/wiki/Treaty_on_Basic_Relations_between_Japan_and_the_Republic_of_Korea

[le-paul]

thanks for that Binch and Northway- thats what I was looking for.
Oh and Junior, development means - 'the act or process of growing, progressing, or developing' as in re-developing a building/site (amongst other things). Considering the country was pretty much decimated after the war, I think Ill stick to re-development thankyou.

[tatu]

reconstruction

[red_devil]

The US was the primary source for re-development of S. Korea as they were with Japan. They provided investment capital for the Japanese to create their own "chaebols" like Sony in order for them to be more self sufficient and not rely so heavily on imports. In exchange all Japanese exports to the US were of course gotten for almost nothing -- one of the reason why Japanese products penetrated into the US market so easily. The US did the similar thing with S. Korea.

[NohopeSeriously]

Korean engineers studied in West Germany also contributed to the Miracle of Han River.