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The Road to Success: �Political Development and Economic Growth of South Korea

Jennifer Jung-Kim

June 20, 2024

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Overview

  • Korea: “Miracle on the Han”
  • Road to economic success and democratization
  • 14th largest economy (2023 by nominal GDP, OECD)
  • 47th in democratization (Democracy Report 2024)
  • Achieved through blood, sweat, and tears

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Korea’s 20th century

  • Joseon dynasty ended 1910
  • Colonialism 1910-1945
  • Russian/American occupation 1945-1947/48
  • Civil War 1950-1953*
  • Cold War politics and economic development
  • Democratization 1987

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Cheonggyecheon�� 청계천

  • 5.2 miles
  • 1958: original stream covered in concrete
  • 1976: elevated highway completed
  • 2003: then-mayor Lee Myung-bak announced restoration project
  • 2005: opened to public
  • Han River water pumped into stream, flows back out to Han River
  • Cost of about $281 million

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Economic Timeline

1950-1953

Korean War

1964

First Five-Year Plan for economic development

1965

Treaty on Basic Relations between Korea and Japan

1966

Brown Memorandum bringing South Korea into the Vietnam War as a US ally

1970

Founding of POSCO (Pohang Iron and Steel Company)

1972

GNI per capita of about $225

1976

Hyundai launches the Pony, the first Korean passenger car

1980

GNI per capita is about $1660

1988

Korea hosts the Seoul Olympics

1990

GNI per capita is about $6303

1996

Korea joins the Organisation for Economic Co-operation and Development

1999

Coining of the term Hallyu (Korean Wave)

2000

GNI per capita is about $11,292

2010

Korea hosts the G20 Summit, GNI per capita is about $22,118

2018

Korea hosts the Pyeongchang Winter Olympics

2020

GNI per capita is about $31,881

2023

Nominal GDP at $33,192

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Democratization Timeline

August 1948

Establishment of the Republic of Korea and the Democratic People’s Republic of Korea

April 1960

Student Revolution leads to the resignation of Syngman Rhee and ushering in of the Second Republic headed by Premier Chang Myon.

May 1961

Coup by Park Chung-hee

November 1972

Yushin Constitution ending direct elections and giving the sitting president increased authority

October 1979

Assassination of Park Chung-hee, ending 18 years of dictatorship

December 1979

Coup by Chun Doo-hwan

May 1980

Gwangju Uprising

June 1987

June Democratic Struggle resulting in resumption of direct elections, greater civil rights

December 1992

Election of Kim Young-sam, first civilian president in almost 30 years

September-October 1988

Korea hosts the Seoul Olympics

December 1997

Election of Kim Dae-jung, longtime dissident

June 2021

Korea attends the G7 Summit in recognition of its economic and democratic strength

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�Establishment of the two Koreas and civil war �

  • Division of Korea in 1945
  • 1948: establishment of Republic of Korea and Democratic People’s Republic of Korea

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Syngman Rhee (pres. 1948-1960)��

  • Elected 1948, 1952, 1956, 1960
  • First Republic
  • Korean War 1950-1953
  • Import substitution
  • National Security Law
  • April 1960 Student Revolution
  • Rhee resigned, exiled in Hawaii
  • Brief period of democracy

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Precursors to war

  • Guerilla fighters in the southwest, but no ties to NK or Soviet Union
  • Small and larger attacks by soldiers of both sides along 38th parallel in summer 1949
  • NK troops took Ongjin peninsula and went east during the night of June 24-25, 1950
  • NK account: SK invaded first, June 23-24

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Korean War timeline

  • June 25, 1950: outbreak of war
  • June 28, 1950: Seoul fell to NK forces
  • July 5, 1950: Task Force Charlie arrived
  • Early Sept 1950: Pusan perimeter established
  • Sept 15, 1950: MacArthur’s landing at Incheon
  • Sept 28, 1950: Seoul retaken by Allied forces
  • October 1950: Allied forces crossed 38th parallel, advance toward border with China, China enters war
  • Jan 4, 1951: Seoul retaken by NK/PRC forces
  • Sept 28, 1951: Seoul retaken by Allied forces
  • Stalemate but at high cost until July 27, 1953 when Armistice signed

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Korean War

  • Civil War (2 Koreas)
  • Proxy War (US vs USSR)
  • International war (2 Koreas + 23 other countries)
  • Outcomes
    • 1.5 million dead, 3 million injuries; 5 million uprooted
    • Divided families
    • Hostilities between two Koreas
    • Longing for unity
  • Cold War

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Hopes for democracy

  • April 1960 Student Revolution was first taste of democracy
  • Second Republic (second constitution)
  • Chang Myon as prime minister and Yun Poson as president
  • Prime minister to have real power, president only had nominal power
  • Direct elections for provincial governors, mayor of Seoul
  • Criticisms that party and government were weak; economic insecurity

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Chang Myon (John Chang),

Prime Minister

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Park Chung Hee �(in power 1961/1963-1979)

  • Coup May 16, 1961
  • Chang Myon asked for US assistance, US declined
  • Emphasis on anti-communism
  • Park ruled through junta called Supreme Council for National Reconstruction
  • Elected 1963, 1967, 1971, 1972*, 1978
  • Third Republic est. 1963
  • Fourth Republic est. 1972 (ending direct elections, effectively making Park president for life)

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Park Chung Hee

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Park Chung-hee (in power 1961*-1979)

  • Coup May 16, 1961
  • Economic Planning Board, Five-Year Development Plans
  • 1965 ROK-Japan Normalization Treaty: $800 million in aid and loans
  • 1966 Brown Memorandum: $1 billion in US aid in exchange for 300,000 SK soldiers and supplies in the Vietnam War

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Park Chung-hee (in power 1961*-1979)

  • Export-oriented industrialization and technology acquisition
  • POSCO, Hyundai Shipbuilding
  • Pyeonghwa Market, Guro Industrial Complex
  • Saemaeul (New Village) Movement
  • Cold War politics

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Chun Doo-hwan (in power 1980-1988)

  • Park’s assassination in October 1979
  • Another attempt at democratization
  • Chun Doo-hwan’s coup December 1979
  • May 18 Gwangju Democratization Movement of 1980
  • High-tech industrialization, overseas construction
  • June Democratization Struggle of 1987

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Chun Doo-hwan (in power 1980-1988)

  • Park’s assassination in October 1979
  • Another attempt at democratization
  • Chun Doo-hwan’s coup December 1979, declaration of martial law in May 1980

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Gwangju democrati-zation movement of 1980

  • 5/18/80: protests at Jeonnam National University in Gwangju
  • Supposed NK communist plot
  • 3000+ paratroopers sent in, massacre and violence against civilians (about 230 civilians killed (once thought to be as high as 2,000)
  • Citizens commandeered city on 5/21, requested US help but denied (🡪 anti-Americanism) and radicalization of protestors
  • Military blockade of city 5/22-5/25
  • 5/26-5/27: protestors put down

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Democracy in 1987

  • Struggles by students, workers
  • Support of religious groups: Buddhism, Christian churches, shamanism
  • Role of middle class, women’s groups
  • Resulted in first direct elections since 1972
  • Increased civil rights

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Roh Tae-woo (pres. 1988-1993)

  • 1987 direct presidential elections with 4 candidates
  • Democratization as a process
  • 1988 Seoul Olympics

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Kim Young-sam (pres. 1993-1998)

  • South Korea joined OECD in 1996
  • Saw trails of former presidents Chun and Roh
  • Asian Financial Crisis (IMF Crisis) 1997

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Kim Dae-jung (pres. 1998-2003)

  • Longtime opposition leader, arrested many times, death sentence(s)
  • Broke old regional discrimination, marked full democratization
  • Economic recovery, financial reforms as primary concerns
  • Sunshine Policy of engagement with North Korea
  • 2000 North-South Summit, Nobel Peace Prize

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Roh Moo-hyun (pres. 2003-2008)

  • 1946-2009, pres 2003-2008
  • Self-educated lawyer
  • March 2004: impeached by National Assembly for illegal electioneering and incompetence, overturned by Constitutional Court
  • Second North-South Summit, October 2007
  • Suicide May 23, 2009 to protest allegations by new administration

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Lee Myung-bak (pres. 2008-2013)

  • Marked swing back to conservativism
  • Former businessperson (Hyundai Construction Chairman), former member of National Assembly, former mayor of Seoul (2002-2006)
  • Economic recovery from Worldwide Recession
  • Protests over US beef imports
  • Tensions with North Korea

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Park Geun-hye (pres. 2013-2017)

  • South Korea’s “Iron Lady”
  • Escalation of conflict with North Korea
  • Gaeseong Industrial Complex closure (2013)
  • Sewol ferry disaster (April 15, 2014)
  • Choi Soon-silgate: longtime confidante advised Park on government matters, including foreign policy, coerced almost $70 million in corporate donations to sham charities
  • Impeachment, removal, imprisonment

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Moon Jae-in (pres. 2017-2022)

  • 3 summits with North Korea in April, May, Sept 2018
  • Relations with US
    • THAAD deployed, more US military equipment purchases
    • US troops: Camp Humphreys expanded at cost of about $10 billion (nearly all paid for by SK) to make it the largest overseas US base
  • Relations with China: backlash against THAAD, trade tensions
  • Relations with Japan: trade tensions, unresolved colonial issues
  • Initial COVID success

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Yoon Seok-yeol (pres. 2022- )

  • Won by less than 1% of total vote after last-minute withdrawal by rival candidate
  • Campaign pledges to make the Blue House the people’s house, abolish Ministry of Gender Equality and Family

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Economic strengths

  • Automobiles, shipbuilding, semiconductors, electronics, Korean pop culture
  • 1980s construction abroad (Middle East, Southeast Asia)
  • 1990s high-tech industries (second largest producer of semiconductors/chips)
  • 2000s on: Korean Wave, electronics, autos, ships

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Korean Popular Culture

  • BTS
  • Squid Game
  • Parasite
  • Soft Power

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Past and Future

  • Economic and democratic strength
  • Struggles by students, labor, others in civil society
  • Cold War tensions

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  • More inclusive, equitable Korea
  • Leader in global health, climate change

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Overview

  • Korea: “Miracle on the Han”
  • Road to economic success and democratization
  • 14th largest economy (2023 by nominal GDP, OECD)
  • 47th in democratization (Democracy Report 2024)
  • Achieved through blood, sweat, and tears
  • Exciting future ahead