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South Korea's economy moved away from a centrally planned, government-directed investment model toward a more market-oriented one. These economic reforms, pushed by President Kim Dae-jung, helped South Korea maintain one of Asia's few expanding economies, [citation needed] with growth rates of 10.8% in 1999 and 9.2% in 2000. Growth fell back to ...
Both North and South Korea had survived the Korean War (1950–53). From the end of World War II, South Korea remained largely dependent on U.S. aid until a military coup occurred in 1961. American economic aid failed in its goal of creating an industrial base in South Korea largely thanks to corruption.
The Miracle on the Han River (Korean: 한강의 기적) was the period of rapid economic growth in South Korea, following the Korean War (1950–1953), during which South Korea transformed from one of the least developed countries into a developed country.
South Korea’s top economic think tank slashed its growth forecast for the country’s economy for the second time in four months on Tuesday, expressing concern about the impact of U.S. President ...
This is an alphabetical list of countries by past and projected gross domestic product (nominal) as ranked by the IMF. Figures are based on official exchange rates , not on the purchasing power parity (PPP) methodology.
[121] [122] Over the span of one generation, South Korea rapidly transformed itself from a war-torn nation into a G20 economic powerhouse. [123] Since the 1960s, South Korea became one of East Asia's fastest growing economies achieving a rapid increase in its GDP per capita more quickly than any of its neighbors. [124] [125]
Under its worst-case scenario, real GDP in those three countries in 2028 could be 1% or more below Fitch's current expectations, if U.S. trade protectionism increases sharply.
The gross domestic product of India was estimated at 24.4% of the world's economy in 1500, 22.4% in 1600, 16% in 1820, and 12.1% in 1870. India's share of global GDP declined to less than 2% of global GDP by the time of its independence in 1947, and only rose gradually after the liberalization of its economy beginning in the 1990s.