South Korea: The Birth of a Tiger

by Kelsey Baye
Economics
Faculty advisor: Dr. Jeremy Horpedahl

South Korea is considered to be an Asian Tiger, one of four Asian countries that experienced massive growth in the late 20th and early 21st centuries. But if South Korea flourished, why did North Korea fail? After the Korean War, North Korea was considered to be the most resource rich and more likely to succeed between the two. It, of course, did not meet the expectations placed on it. What caused the South Korean economy to flourish as its neighbor floundered? What economic reforms, policy changes or societal evolutions gave rise to one of the strongest economies in the world? Can South Korea sustain their growth into the future?