South Korea's economy grew rapidly under Park

Consequences Urbanization in South Korea Only 3 cities with more than 20,000 residents (1789)
percentage of the urban population was 3.3 (1789)
Urbanization began during the Japanese colonial rule (1910-1945)
New cities grew to meet Japanese needs
Rapid urbanization in 1960s to 1980s
Rapid industrialization lead to rapid urbanization
81% of the population live in the urban area The government assisting the "slums": By Yoo Hwa Park Urbanization in South Korea Land insecurity
Unemployment
Temperature rise
Air pollution
Destruction of the nature power lines
water lines
sanitary toilet Providing more opportunities in the countrysides: higher-quality schools
job opportunities Using public transportation: solves the problem with the air pollution
less traffic Works Cited Fee, Kyle, and Daniel Hartley.

Rather than merely offering a means of explaining the rapid-growth phase of Korean development, ..

In 2010, the Presidential Commission for Shared Growth for Large and Small Companies was launched with a view to settling conflicts between large-sized businesses and SMEs. The commission is assigned with the duties of fostering an atmosphere conducive to shared growth in industries, monitoring and announcing large businesses’ shared growth indices, designating sectors and items suitable for SMEs, and settling conflicts between large businesses and SMEs based on a social consensus.

The G20 Summit in Seoul in 2010 was held under a similar theme. The G20 Summit came into being following the global economic crisis in 2008, based on the view that it was necessary to have major emerging countries take part in international economic discussions, as the G7 Summit inevitably had certain limitations in this respect. It was pointed out that the international financial system had failed to reflect the fact that the share and role of emerging countries had expanded to a considerable extent over the previous three decades.

At the G20 Summit held in Seoul in 2010, South Korea assumed the position of the Chair, indicating that the country had assumed a positive role in the international economic order.

The G20 Summit Seoul adopted the 20-item Seoul Summit Leaders’ Declaration and came up with an agreement containing 74 items. Other results of the summit included the announcement of the Seoul Development Consensus for Shared Growth, the Multiyear Action Plan, and the Anti-Corruption Action Plan.

The Seoul Summit Leaders’ Declaration stressed the role of developing and emerging countries in a move to put an end to the foreign exchange war between major countries and to reform the IMF, which used to be centered on industrialized countries.

Its contents were focused on the pressing need to stabilize global financial markets and provide support for impoverished countries striving for economic development. The declaration went a long way towards enhancing the status of South Korea in global economic and financial markets.


South Korea Economy | Economy Watch

Profile. South Korea over the past four decades has demonstrated incredible economic growth and global integration to become a high-tech industrialized economy.

By the end of 1988 there were over 2 million South Korean overseas residents. North America was the preferred destination, as the choice of over 1.2 million. Korean immigrants in the United States and Canada gained a reputation for hard work and economic success. South Koreans also were overseas residents of Japan (at least 680,000), Central America and South America (85,000), the Middle East (62,000), Western Europe (40,000), other Asian countries (27,000), and Africa (25,000). A limited number of South Korean government-sponsored migrants settled in Chile, Argentina, and other Latin American countries. Because of South Korea's rapid economic expansion, an increasing number of its citizens reside abroad on a temporary basis as business executives, technical personnel, foreign students, and construction workers. A small number of overseas South Koreans had migrated back to South Korea primarily because of the much improved economic conditions and the difficulties in adjusting to living abroad.