Korea's modernization, begun in the early sixties, has recorded remarkable progress in improving the nation's economy in the course of implementing successive long-term economic development plan.
The aim of this article is to analysis how forein tra...
Korea's modernization, begun in the early sixties, has recorded remarkable progress in improving the nation's economy in the course of implementing successive long-term economic development plan.
The aim of this article is to analysis how forein trade progress has affected the industrial structure and nation's economy in the economic development of Korea during the period of 1953~1973.
In analyzing the relation of foreign trade progress and nation's growth, the method of various correlation coefficients mearsured by regression equation is used and the period of analysis was divided into two major stages and three minor stages in the light of economic growth of korea : the stage of maintenance economy(1953~1965) and development economy(1966~1973)
In a few words, foreign trade of korea in the period of stagnatory economy(1953~1959) had almost not affected the nation's industrisal structure and korean trade in the period searching for economic development(1960~1965) had converted primitive nature-intensive trade economy to the labour-intensive trade economy.
The conclusion is that foreign trade of korea has achieved notable improvement in the industrial structure in the period of development economy(1966~1973) and leading industry, manufactures among the whole economy which have been developted by rapid trade expansion has not only made the whole economy of korea into the labour-intensive light industry, but also the deep dependent economy to international economy.
Therefore, the emphasis of all economic policy must be on the establishment of primary industry, substitute industry for resources and heavy & chemical industry to cope with many new challenges in our path toward economic development of korea.
This article is systematized as follows ;
The first chapter presents introduction
The second chapter points out Industrial Structure and Economic Development
1. General Rules of Development in the Industrial Structure
2. Fluctuations and Present Stage of Industrial Structure
3. Manufactures and Leading Industry
The third chapter deals with Foreign Trade Progress and Its Fluctuations
1. Period of Maintenance Economy
2. Period of Development Economy
1) Fluctuations of Foreign Export Trade
2) Fluctuations of Import Trade
The Fourth suggests Foreign Trade Progress and Our Economy
1. Correlation of Foreign Trade and Economic Growth
2. Leading Industry and Foreign Loan
3. Trade Economy regulated by Foreign Dependence
The last chapter treats Summary and Conclusion