Korean Job Discussion Forums

Junior · Joined: 18 Nov 2005 Location: the eye

The Japanese Role in Korea's Economic Development

The Japanese, who dominated Korea from the late 1890s to 1945 and who governed Korea as a colony from 19l0 to 1945, were responsible for the initial economic modernization of Korea. The Japanese government played an even more active role in developing Korea than it had played in developing the Japanese economy in the late nineteenth century.
http://countrystudies.us/south-korea/46.htm

"When Japan established diplomatic relations with South Korea in 1965, it paid large reparations to the government of Park Chunghee, who had seized power in 1961. The South Korean government was not democratic, but Japanese assistance and competition with Japanese industries have contributed to the rapid growth of the South Korean economy in the past two decades. "
http://www-tech.mit.edu/V110/N44/hide.44o.html

Posco owes its begginings to japanese aid:
"Japan provided the money for the construction ... Financing included US$73.7 million in government grants and loans, US$50 million in credit from the Japan Export-Import Bank, and technical assistance from Nippon Steel and other corporations.
http://countrystudies.us/south-korea/48.htm

Looks like Korea owes japan, not the other way round.