South Korea

The Political, Social, and Economic Institutions in South Korea

South Korea was considered to be one of the "Asian Tigers," but that designation of strength did not stop the country from experiencing serious problems in the past. These were financial, but they were also social and political. The country went through rapid changes, including a financial crisis, but before that crisis occurred there were other issues with which the country had to deal. Most of these problems began in the 1960s and 1970s, when the Korean government and businesses within that country started "scratching each other's backs." That might sound as though the businesses and the government were simply attempting to help one another out, but that proved not to be the case. Modernization theory will be examined here in an effort to show the effects it had on Korea and what the country was attempting to do...
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