How to become a rich in South Korea
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How did South Korea become so rich? South Korean companies are on fire. This is a surprise given that in 1960, South Korea was an extremely poor country.
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When North and South Korea was separated, South Korea was a extremely poor country. North Korea was much more developed than South Korea. Moreover South Korea was poorer than many African countries. But the development of South Korea from being an extremely poor country to the Asia’s 3rd most urbanized country, the world’s 12th largest economy and home to many world class MNC’s is very impressive and it is very appropriate to call it as “Miracle on the Han river”.
But how did this happen. It all started when South Korea got separated from North Korea. When the South got separated they gave extremely high preference to Education. The people living there was like they can give up anything, but not education. The first generation people of South Korea gave up everything that they had for the education of the future generation. This resulted in production of well educated citizens, the most important resource that any country should have.
South Korea also provided cement packages to the people for rebuilding their houses. Even while they were facing a crisis they manages to give cement to the people for reconstruction. After that, South Korea again faced a crisis, and that is the oil crisis. Oil prices around the world shook up and South Korea’s government manages to talk with middle eastern countries for getting oil in exchange of South Korean construction workers/
South Korea faced this problem three times and at the fourth time South Korea managed to build a society with less consumption of oil. South Korea was really in need of some source of economy. South Korea was about to build a iron and steel manufacturing units but the US thought that would be an utter failure and refused to help South Korea. Many Asian countries too warned South Korea that if something goes wrong it would occur a great loss for them.
In 1990 South Korea’s economic growth has grown up to 9.2%-10.4%. South Korea’s economy boomed in 1990. Until 2008, South Korea was in perfect shape of being a prosperous country in future. They also have overtook North Korea in terms of development, education, economy, etc,. But a huge turnover came in 2008. The Asian Financial crisis if 2008 badly affected South Korea. During this period South Korea became bankrupt and all the schools in South Korea were shutdown.
Those educated wealth(people) of South Korea gave all their jewelry to the government for the recovery of South Korea. All the schools were open and everything became fine. South Korea became No.2 in Education world wide. And they became the 3rd most urbanized country and it’s capital Seoul became the 4th most costliest city in Asia. The cost of living of the people was also increased. Technology boom which occurred in East Asia was also one of the most important factors for South Korea’s growing popularity. At the dawn of 2010 an another industry skyrocketed the fame of South Korea, the Hallyu or Korean Wave became widespread with the help of Gangnam Style which gained more than 1 billion views online and was the most viewed video at that time.
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I'm not Indian and k0rean
I'm Chinese
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