How did SOUTH KOREA become so RICH? – VisualPolitik EN

How did SOUTH KOREA become so RICH? –  VisualPolitik EN

Today we are going to talk about South Korea,
or as Kim Jong Un would call it, “the bad Korea”. You’ve probably heard of this
country because it is where your mobile phone, or your TV screen, or even your car was manufactured…
Or perhaps because it is the place where the most watched YouTube video of all time came
from… Yes, South Korea is a big power: not only
at the cultural level but also at the economic one. I’m sure everyone of you watching this
video have at least, one product from SAMSUNG, HYUNDAI or LG…
  South Korean companies are on fire. And this
is a surprise given that in 1960, South Korea was an extremely poor country. And no, we
are not talking about relative poverty here. Other countries like Gabon or Zimbabwe were
more developed.  
Nonetheless, in just one generation, South Koreans went from starvation to one of the
most prosperous societies in the world.  
And, so now for the big question: What did they do in South Korea to become quite so
Hold on a second though, because I know what you are thinking if you are a regular viewer…
“Ah, this is just another video where we explain how a country got marvellously wealthy
thanks to free market capitalism, right?! RIGHT?!”
  Well, I’m sorry to disappoint you (or not).
But the story of South Korea is a bit different. Of course, compared with their neighbours
to the north, South Korea is a free paradise, but their economic model has one peculiarity
that sets it apart from the rest of the world…  
So then… What are the reasons that explain this incredible progress in South Korea? And
more importantly… Why was Gangnam Style so controversial in South Korea? Both of this
questions are actually related (we promise) and these are the questions we are going to
answer in this video. FROM THE TOP TO THE BOTTOM
  As you probably know, in 1953, the Korean
peninsula was split in two halves after a war in which over 2 million people died. At
that moment we could actually say that South Korea was the country that was in more trouble
economically… The North had all the industries and companies, while the south was agricultural
and underdeveloped region.  
Schools had no desks and the most of the children got the majority of their nutrition from powdered
milk given by the US and Europe. This is why, in 1960, after many protests, General PARK
CHUN HEE organized a coup d’etat and took power in the country. And this is how the
first South Korean dictatorship started.  
For the next 27 years the country had 3 different dictators. And all of them came to power in
a violent way – by overthrowing the previous dictator. Nonetheless, despite the political
instability, these were the times when the South Korean economic model was created.
  But hold on a minute because this economy
is not as free as you might think…  
In fact, a free market is organized in a bottom up fashion. The private businesses decide
how, when and what they want to sell. Then, the state comes in and regulates all that
activity through laws.  
Well… PARK CHUN HEE´s system was the opposite. This was a TOP-DOWN system. His policy was
to meet the most important families in the country, who controlled most of South Korea’s
industries. This group included the founders of Samsung and LG.
  So essentially he put them in a room and said
“Look, from now on, I will give you whatever you need for you to grow.”
  If one year you cannot pay taxes… it´s
OK! I will forgive you! Do you need some grant? Here you have it! Do you need to borrow some
money from abroad? Well the government will back your loan! Even if you cannot pay your
debts, the state is going to help you!  
“If we are weak, our country will be in jeopardy. (…)  In order for a country not
to fall, it must cultivate its own strength.” –Park Chung Hee
  Nonetheless, unlike other countries like France,
South Korea didn’t put up any barriers to international trade. Actually, since that
very first moment, the government guaranteed rule of law and low taxes for all businesses,
regardless of where did they come from. But not only that… Park Chun Hee gave all kinds
of tax incentives for companies and individuals to invest and save money.
  In other words, the big conglomerates like
HYUNDAI or LOTTE had to compete in an open market with other corporate juggernauts from
Japan or the US. But, at the same time, they had the help from the government.
  Since South Korea has no natural resources
but a big population, those companies put a focus on industries that required a large
workforce: manufacturing.  
And this was the beginning of… THE CHAEBOL NATION
  Imagine the life of one of the 100,000 workers
employed by SAMSUNG in South Korea. He gets up in the morning in a house built by CyT,
the construction company run by the Samsung group. While he eats breakfast, he watches
the latest VisualPolitik video (or so we like to think). He does it from his Samsung Galaxy
phone. Then, he takes his RENAULT-SAMSUNG car. Yep, you might not know that, but Renault
cars are manufactured by Samsung in South Korea… And guess where he has his car insurance!
Yep, you’re getting the trend here, he get’s it from SAMSUNG!
  Then after a hard day working at… (pause)
yeah, you got it! Now our South Korean man wants to get some beers with his colleagues.
So he goes to the canteen at… (pause) yep, you got it! Then, the weekend comes. And our
friend wants to spend some quality time with his wife and his children. He decides to take
them to a park. Where do you think he will go? Yeah, he goes to Samsung’s very own
Disney style theme park…  
In other words, if you work for Samsung, the company is everything to you. We are talking
about the biggest “CHAEBOL” in all of South Korea.
  And now you might wonder… What exactly is
a CHAEBOL? Chaebols are those big conglomerates supported by the state. Some of them, like
the already defunt DAEWOO, were started by the administration itself. Others, like HYUNDAI,
were born in the 1940s. All of them started being family owned but, as they grew, they
became public companies. And all of them have different business lines…
  For example, LG is famous for their TVs and
their mobile phones… But in South Korea, they are also the distributors of Coca-Cola.
  In total, there are around 100 chaebols and
they are the biggest asset in the South Korean economy. Now, as I said before, the government
places a red carpet under their feet… but this doesn’t mean they have a blank check.
  This is why when a CHAEBOL as big as DAEWOO
went bankrupt, no one came to bail them out. And this is is a clear incentive for this
companies to be at the edge of innovation. For instance, in 2008, SONY, the Japanese
firm, wanted to create the first OLED TVs. But this technology was not advanced enough
and the screens were pretty expensive, even priced to high for most of the luxury market.
So the SONY guys put the project on hold, and never really got back into it.
  South Korean LG had the same technology and
the same problem. So what did they do? They launched OLED mobile phones, with a smaller
display. This way, they took advantage of their assets and, what is more important,
they learned how to work with this new technology. This is why, in a very short amount of time,
they found ways to produce affordable OLED TV screens.
  But hold on a minute because there is another
important part which helps explain this very innovative culture.
We all know it: South Korean children have always one of the best marks in the international
PISA test. The whole country stops university entrance exams start. South Korean schools
spend whatever they need to guarantee the best education for their boys and girls.
  The flipside of the coin is that those kids
have the biggest child suicide rate in the world. In fact, all of South Korea has a problem
with suicide -the country having the second highest suicide rate, per capita, in the world.
  Since the beginning, the government has understood
that CHAEBOLS would need high skilled workers. So they designed an educational system that
worked in line with the nation’s companies. This explains why South Korean children are
incredible good at maths and have excellent memorisation abilities.
  Further, their respect for authority and hierarchy
is almost religious. And… this is why none one of them want to start a company. The dream
of every South Korean one is to end up working in one of this CHAEBOLS. If they work hard,
they might even become a manager and get a house in that paradise on earth, in that famous
district of Seoul with a name that will sound familiar to you… Yep, I´m talking about
  “A human and warm girl during the day. A
classy one, someone who knows how to enjoy the freedom of a cup of coffee but when the
night comes down, her hart gets warmer because she is a girl with two faces… Hey, sexy
lady, Opa is Gangnam Style”.  
This is an extract from that famous song that became so popular back in 2012. It even lead
to their main singer, PSY, getting into some trouble with the authorities due to the lyrics
having “inappropriate content.”  
For a society that is obsessed with the respect for authority, PSY’s aesthetics are something
as radical as the hip movements from Elvis back in the 50s…
  But the truth is that a hierarchical economy,
one which relies on a few big corporations is not a good recipe for a stable economy.
In fact, South Korea, big as it is in the manufacturing industry, lags behind in other
fields such as services or finance. And since the economy depends so much on governmental
and chaebol decisions, there is almost no space for entrepreneurs. Think about it…
even if you want it, it is hard to start a company when your competitors are supported
by the government.  
But not only that! These hierarchical structures are not as efficient as you might think. In
fact, most of the CHAEBOLS have become bureaucratic behemoths that require lots and lots of money
to work. Take Samsung as an example. This firm leads the sales on mobile phones in the
entire world. However, they make almost no profit. And that is a problem.
  Anyway, things are starting to change. A lot
of South Korean youngsters have been educated in Europe or America. And now they are coming
back to their country of origin with a new, more critical mindset, and a more entrepreneurial
spirit. This new generation is creating the roots for an start up ecosystem. But there
is still a lot of work to be done…  
Anyway, whether you like it or not, we must admit that this top-down model has been successful
in South Korea. But despite all of this, there are still some questions to be answered:
  What would happen if one day a company like
Samsung collapsed? What would happen to the country as a whole? And not only that… This
marriage between politics and business has created lots of incentives for corruption
on a massive scale. But that’s something we are going to cover
in a future video!  
Meanwhile, you should check out this other video where we tell you about the rising Asian
middle class!  
Also don’t forget to check out RECONSIDER MEDIA.COM, the podcast where you can hear
the voice on this video that isn’t mine!  
And now the question is… Do you think this crossover between hierarchy and free market
could ever work in other countries? What’s your opinion about the South Korean system?
Please, leave your opinion in the comment section below!
  And don’t forget that we upload brand new
videos every Monday and every Thursday so don’t forget to subscribe so you won’t
miss anything. If you liked this video, do give us a thumbs up. And, as always, I’ll
see you next time.

100 thoughts on “How did SOUTH KOREA become so RICH? – VisualPolitik EN

  1. Moon is trying to make S.Korean Economy poor. Why?????? Because he want to make S.Korea Socialist country.

  2. Everything in Korea is top – down and it isn't a good thing. Anyway, Korean economy is a large topic, long story short, I am not optimistic.

  3. 외국에서 지내고있는데 많은 친구들이 삼성폰을 사용합니다. 생각보다 자동차는 한국차가 거의 없고 일본차가 시장을 휩쓸었네요. 한국 중형차 절대 찾아볼수없고 경차 소형차는 그래도 잘 팔리는편. 유럽에서 한국 모닝, i30, 이런건 많이 봤는데 그랜져 소나타 이런거 절대 단 한대도 못봤어요. 제네시스는 물론. 유럽 기준입니다. 미국 말고. 그리고 대부분 일본차 독일차가 주류고.

  4. Korean and Japanese have very similar mindsets when it comes to work, not to mention that the Korea’s primary industrial and educational frameworks were actually created by the Japanese in the pre WW2 period. Even the chaebols were modeled after the zaibatsu/keiretsu system. They are like brothers.

  5. How is the fan club of Mr.Moon in The White House after that?
    It's time for shameless liar S Koreans to prepare another candle parade which S Korean morons proud of.

  6. _vassalage
    _Political slavery for the benefit of Washington who dictates life to his vassals.

    result :

    Korean territory serving the interests of washinghton threatening Chinese and Russian interests in their locality

    = latent conflict maintained by US military spyes, army and US finance presence.

    the koreans who do not live under the diktats of washinghton, north korea with their strengh government, want to free their south territory of THEIR country occupied ideologically, mentally, financially and militarily by the americans.

    each day that this occupation of the korea lasts, washinghton threatening to transform the country of the Koreans, into battlefields one day or the other, here Chinese Russian and American will come to make their war.

    the rate of suicide increasing from year to year, the plutocratic way of life denaturing human existence and especially against traditional nations as are the Asian civilizations …

    why south korea is wealth ? because it's a good slave of washinghton.

    be slave and eat drunk and fuck or be free with embargo and US military threats

    the united state of america is the one international dictatorship against a one country dictatorship

    local dictatorship, against international dictatorship !

    who wrongly who rightly?
    the international aggressor obviously.

    the sovereign korea has been suffering damage to its economy since 1950. the dictates of washinghton imposed on a major part of the nations of this world, forbidding them to trade with the free Korean people, weakened the Korean people and reduced it to poverty.

    the US tyrant thus hopes to produce famine, and failure of the sovereign korea system, which would push the Korean people to turn against their government.

    an infamous strategy worthy of any tyrant.

    the Korean people hold out since 1950 against the greatest threat in their history. the goliath

    Russia and China support the pyang yang capital not seoul.

    the US uses seoul as a doormat to be present militarily in front and against china and russia interests.

    just as they would like to occupy the tibet region located at 5000 meter altitude and where American generals would like to place their ballistic missile…

    korea is historically a single country not two

    since 1950 there have been two korea because washinghton interferences and US colonization, corrupting South Korean criminals taking them into new regim in exchange for obeying washinghton.

  7. I don't find South Korea appealing at all despite it being a developed country.

    1) They are extremely racist people. It has been generally recognized by scholars and even the UN that racism is a widespread social problem in South Korea. It was even written about in the NY Times People their petitioned to not have refugees in their country which is more confirmation of how racist, xenophobic and selfish they are.

    They are by far the most racist of all Asian people. A lot of them think they are inherently superior to other races even other other group of asians, especially those with darker skin tones. Perhaps that is why there are so many fatherless "kopinos".

    Yes, there are racists white and black people but it is not at the proportion of racist Koreans: "The 2010-2014 World Values Survey found 34.1 per cent of Koreans would not want to live next to someone of a different race, compared with 5.6 per cent of Americans and 18.8 per cent of Hongkongers."

    There are schools in Korea that will flat out say they won't hire black people. In fact "a 2015 survey by the Seoul Institute found that 94.5 per cent of foreigners in Seoul had experienced discrimination, compared with about 30 per cent of foreigners in Japan, according to a 2017 study by its justice ministry."

    Just about every Youtube video I have seen of a black person (and even some white people) in South Korea has stories of racist incidents. I was just watching a video of a black woman where she said that Korean woman straight up told her that dark skin was ugly.

    There is one video on Youtube that has over a 1 million views where Korean man tries to introduce his half black fiance to his Korean mom and when he does the mom goes berserk.

    I find it ironic how Koreans (generally speaking) can despise black people when they appropriate African American culture. They love Hip Hop music and dance. Which reminds me of another video I saw where a black woman was refused to enter a Korean club because she was black that was playing Hip Hop music!

    2) Koreans are very materialistic

    3) Koreans are very superficial (hence it is the cosmetic surgery capital of the world). They are so superficial that jobs require you to send a pic on your resume. What does your looks have to do with how your ability to do a certain job?

    4) South Korea has many, many cults.

    5) Koreans have one of the longest work hours of all developed nations

    6) You are compelled to drink alcohol for work. South Koreans drink more alcohol and have more alcoholics than any other country in the world.

    7) It has one of the lowest birthrates in the whole world

    8) Almost half of the men in South Korea admitted to going to a prostitute including married men. Korean men have no moral qualms about going to a prostitute. A lot of them don't even consider it as cheating.

    9) K Pop is the most garbage, derivative, annoying, copy cat, manufactured music in the world. But aside from that there horrible things going behind the K Pop scene

    10) According to the OECD, roughly half of Korea’s elderly population lives in poverty. Elderly suicides also occur at an alarmingly high rate – the highest of OECD countries. Why? Because the younger people have neglected their elderly as they focus more on self.

    11) South Korea has the highest suicide rate in the world for children ages 10-19. Part of the reason is
    16 hours a day at school and at afterschool programs called hagwons and the overbearing pressure to make it in a top University. Why do parents put so much pressure on their children to go to a top university? Part of the reason is because it brings prestige to the family. So basically it is just vanity but at the expense of their children's well being.

    12) South Korea has a ginormous and widespread sex trafficking industry as seen in the documentary Lost in Seoul where many women and even underage girls are exploited. More than half of the businesses that claim to be karaoke bars, massage parlors, and bars were found to also serve as brothels. Heck, even the police who are suppposed to be fighting against it go to them for sex.

    13. Men there are abusive. According to a report released this year by the Seoul Metropolitan Government, 88.5 per cent of women living in Seoul said they had been psychologically or physically abused by their boyfriends or husbands. 
    Of these women, 24.5 per cent said dating involved psychological abuse, with 22 per cent saying threats were involved and 10.7 per cent reporting physical violence – 37.4 per cent of the women who experienced violence had to be hospitalised.

    God bless America!!

  8. So a state sponsored company that provides economic stability, jobs and prosperity to the population rather than shareholder profits. What’s the problem? Sounds like the model for a long term successful corporation to me. Or if the state is a shareholder, wouldn’t this be the best return on their investment rather than stock dividends?

  9. A significant portion of Jeju Island have been purchased by questionable investors from China.
    Within hundred years, if not sooner, it will secede, and become a Chinese territory/military base.

  10. I watched your Japan low immigration video right before this one. Japan’s immigrant population is 2 percent. South Korea’s is 3.4 percent. Does Japan not have chaebols like Sony and Mitsubishi? Would love to hear your thoughts on this.

  11. In return, we've ended with the world's highest suicidal rates (coupled with the least marrying country status)

    Following such an unhealthy model.. we've become the world's most unhappy country.

    The few family owned economy model resulted in the worst promising land of opportunities – the CEOs try their best to minimize employment and most people get fired for being more than 40 somethings and find themselves in deadlock.

    Can anyone help correct the pronunciation of Hyundai as in [hee un day] and chaebol as in [chey ball]?

    #satire for #asia and #southkorea

  12. So, dictatorship + big companies backed up by the state + focusing on manufacturing, and you have China, oh no, South Korea with a growing economy.

  13. But Nowdays Our Stupid President Moon(Servant of Kim jung un), Broken Korea's Economy. That Make Me Very Sad

  14. President Park single highhandedly did that. after that end of history. momentum.. couldn't be stopped util now. Leftist credits people worked hard. but the fact is NK worker worked harder, and they are working harder now. why are they so poor?

  15. Plenty of hard works and self determination among S.Koreans to make their country a rich nation, unlike their northern brother.

  16. As a Korean, my take is that, yes, the rapid development was indeed nothing short of miraculous, but it's proving to be a double-edged sword.
    The insanely fast development came at the cost of untold tragedies and trampling of people's lives and rights, and that development carried with it many darker aspects that continue to plague Korean society and culture, the darkness that you would never even guess if you are only viewing Korea through the glam-tinted lens of K-pop, K-beauty, and Samsung. The current generation has a lot of cleaning up to do, as well as a mountain of difficult problems that may or may not get solved. Live in Korea for just one month, and you will see that it's not all Galaxy Smartphones and pretty girls.

  17. If all countries stand on fair situation for competition. northeast Asia people will be the richest group. Because the their culture emphasise that hard work, education, self-discipline, collectivism.

  18. Way to glorify a fascist dictatorship as an "economic miracle." No, the economic "miracle" was the millions and millions in foreign aid the US pumped into South Korea to satisfy the local capitalists enough to allow them to use Korea as a base of operations in East Asia. Both halves of Korea are dominated economically by imperialist powers–one half by Russia and China, the other half by the US. Neither are free or fun places for the majority of citizens, even if the South Korean capitalists have more money to play with from their foreign rulers. The chaebol system is corporatism, which is fascism: when the state-run monopolies dominate the economy, which creates a facade of "harmony" between classes & puts an end to open competition between different factions of imperialists. It's no different than what Hitler and Mussolini were doing in the 30's. They were the ones who invented this shit, telling everyone to accept poverty as part of the "natural order." It's all the same as in modern-day North Korea, Singapore, China, or dozens of other fascist countries. The masses have no democracy, are overworked, underpaid, and carry massive debt.

  19. You spent all that time researching the country and that's all you can do about the pronunciation?. Too bad, man. Very good, accurate content but I had to turn it off because of your ignorant Kai-buel bull shit!!

  20. Korea relied only in themselves,they sent their people to other countries to learn new things and most of them came back to their country to make it better. They never relied to any religion not like my country who deeply relies to religion Philippines and look at what the result is from one of the best country in Asia to a fcking trash can.

  21. 한국에 대한 고정관념이 있군요. 반은 맞고 반은 틀렸어요. 한국은 주어진 상황에서 최선의 선택을 했어요…그 결과가 현재의 체제이고…노력하기에 따라서는 그 어떤 사회보다 기회가 주어집니다

  22. How? U.S. elites/ bankers invested hundreds of billions over the decades there and influenced the trade deals to make themselves wealthier in return.

  23. Sort out that pronunciation mate. Excellent video with information but that 'Kaibol' makes me cringe. If you do a video of Jamaica make sure you consult with a Jamaican first. Just saying it adds more credibility to an already great video when those little details don't become a gigantic speck in one's eye.

  24. 반미주의자들이 나라를 어지럽힌다.

    공산주의자 or 반미주의자들아, 진짜 미친 거 아니야?
    공산주의로부터 지켜준 미국에 감사해야 마땅한 건데. 아무것도 모르는 일부 좌파들이 극우파 태극기부대 노인들이 친미라서 그에 대한 반항심으로 반미 하는 것 같은데, 나도 극우 친일파들 싫어하지만 정치 성향 좌우 어느 쪽을 지지하든 상관없지만 해방 후 우리 역사를 볼 때 미국은 정말 고마운 나라인 것이 사실이다. 미국이 북한 같은 공산국가로부터 안전하게 지켜 준 덕분에 남한은 경제 개발(발전)에 올인할 수 있었다. 미국이 없었다면 바로 적화통일 공산국가가 되었거나, 중동의 어떤 나라들처럼 내전으로 인해 수시로 파괴되고 경제 발전할 틈이 없었겠지.
    은혜도 모르는 것들은 당장 북한으로 넘어가서 김정은 밑에서 개처럼 살아라!

    미군이 이렇게 생각하겠다. "너희같은 것들 구하려고 피를 흘렸나 자괴감 들어.."

  25. President Park always  ask top Korean companies that " Done next "when Hyundai start manufacture car "Done" good job   " Next" now is time build shipyard and start build Cargo ships. I will back you up and you know  that I am a dictator right?

  26. This uploader does not know the real reason why Korea could be econmic developed country.
    Actually Park,Chonhee paied effort the governance. But no body ignore can Japanese assistance for Korea from 1965. After Tokyo Olympic game in 1964, Park,Chonhee visited to Japan in 1965 to make new agreement between Japan and Korea. First of all, Japan renounce all asset in the Korean peninsula forever and Japan promised to pay 1000billion yen and "ODA" official development assistance of Japan, and giving technology, skill. While Korea government has never opened these budget from Japan even now.
    In 1965 USD was rate of 1 usd=360yen. means 3600billion value at the time. It was for 3years budget of South Korea in 1965. Search deeply!!

  27. In 1980s Japan built subway of Seoul as Korean first experience. Remember what Japan built 3500km railroad over the peninsula during the annexation.

  28. This interesting video is as good as a volume of books for the subject matter. Great work! President Park's dictatorial leadership was unique in that he never took advantage of the dominant power for his own personal wealth. When he died, people were puzzled by the moderate amount of money that was left in his office cabinet, not such as in a Swiss bank account one might had presumed. It is well known that his personal life was humble and frugal ever since he was born from a very poor farm in the very poor nation. (The per capita income of S Korea was $86 then) The top down capitalism, planned economy driven by his unselfish patriotic mind and power produced an economic miracle in South Korea. The hard working, dynamic nature of Korean peoples' responses to his authoritarian governing was both highly productive hard working labor and bold demand for equality. The result is South Korea that has achieved economical quantum leap along with political democracy. I do not think that we could witness another combination of economical and democratic success in short future because it is easy for many dictators and powerful governments to regard themselves as unselfish and patriotic but it is biting a silver bullet hard to prove it until truly their time is done, therefore most would face themselves at the center of corruptions. Likewise too many good willed liberals pursue for ideals result in themselves locked up in their own dogma dictating other thoughts to think like them and say others must be "educated". Blessed were South Korean people for having had a right leader at the right time. But time goes on. — With deep appreciation to the publisher.

  29. Japan took everything from korea 100years ago. And then north korea, russia, china destroyed korea by war 70years ago! But we were never give up for our country!

  30. Inferiority ethnic group S Koreans can do nothing without Japan culturally and economically.
    Shameless liar S Koreans try to steal or imitate Japanese things desperately.
    And that's their daily routine.

  31. 彼高丽者,边夷贱类,不足待以仁义,不可责以常礼。古来以鱼鳖畜之,宜从阔略,若必欲绝其种类,恐兽穷则搏….向使高丽违失臣节,诛之可也;侵扰百姓,灭之可也;久长能为中国患,除之可也。有一于此,虽日杀万夫,不足为愧。

  32. 彼高丽者,边夷贱类,不足待以仁义,不可责以常礼。古来以鱼鳖畜之,宜从阔略,若必欲绝其种类,恐兽穷则搏….向使高丽违失臣节,诛之可也;侵扰百姓,灭之可也;久长能为中国患,除之可也。有一于此,虽日杀万夫,不足为愧。

  33. Guys Psy(gangnam style dude) is currently in trouble because some girls said he "paid" them and had… Uhh. You nam sayn? Yeah so…. Let Every One Know!!

  34. We were supplied many opportunities to be an upper class of our society if you have an enough intelligence and strongly desire for it. After Korean war, members of traditional upper class were gone. It's why our government could write concrete plans for unbelievable economic growth.

  35. Does it have anything to do with their movie/film productions – popular not just in China, Taiwan, Japan but also North America?

  36. Business without ROI no more lasts. You can feed red tape will eat countries currency. As you said younger generation will change concepts.

  37. China is buying up S. Korea as if they are getting ready annex the nation. With the help of corrupted S. Korean politicians,

    Jeju Island will become a Chinese territory / military base, within fifty years. Take a lessen from Malaysia before its too late, unless you want your nation to turn into another Singapore.

  38. Why rich? We put much more affort to be successful. South Korean high school students are sleeping only 4 hours a day. Why? We want be successful and have good life. This is how we deserve and who we are. If someone has European mind and get job in Korea, they cant survive from Korea. It is very competitive.

  39. South Korea is finished. It’s going to be the First Nation to fall to socialism in Asia after having free market reforms. Don’t be fooled by big tourist traps like Seoul. SK is going to be the next Venezuela with a big government giving out jobs and benefits while the economy fails.

    President Moon puppet was appointed by Obama not the Korean people. It’s time for Koreans to rise up and take back their country.

  40. China is currently, the most diabolical force on the planet. They are communist but have countless billions to play the
    capitalism game. Buying up real estate and businesses as well as politicians in S. Korea is a small pocket change for them.
    They are invading legally.

  41. Now you will see SK FALL and Die. As now I know that it was Japan that caused the Korean miracle. There is no such thing as miracles, and as you and I are Just citizens we dont know which country gave money to which. Subbing you was a mistake, you are not an economy experts just a (talker). Sorry why am I here?

  42. Well I’m surprised he didn’t mention at all why Korea became one of the richest countries in only one generation. It’s because of the teaty Japan and Korea signed on in 1965.
    With this treaty, It established basic diplomatic relations between Japan and South Korea. Japan agreed to support Korea total of $800 million as "economic cooperation". The part of this economical support was actually meant to go for those Korean individuals who suffered from Japanese colonial rule but Korean gov spent all for their economic growth instead which led to the current issues that Korea and Japan are facing now. (Koreans individuals are now demanding japan to pay the compensation although it’s already resolved)
    Korean government hasnt told their people this 1965's treaty out loud so that majority of Koreans don’t know exactly what happened or what was the content of it. (Well no surpise Korean gov controls tightly what info should be released and what shouldn’t.)

  43. Hi! I'm a Korean student in 17 age! I'm studying very very hard for my future 🙂 I'm interested in many counties and their reactions for Korea. So I love this video( and thank you for this)♡ Our current president is leading our country in wrong direction, but! we will try to overcome as Park Geun-hye. My hope is everyone in earth to fit in(good friend!). And I think Japanese is not bad, but do also Japan's president, prejudices and policies are wrong! Therefore, I think we can be friends in whole countries people. Thank you for reading my friends😊

  44. You are missing the KEY POINT.
    The USA 🇺🇸, the countries that WE given BIRTH to:
    1. Japan
    2. South Korea
    3. France
    4. Germany
    5. All of Europe ( USA saved from USSR)
    6. Guam
    7. Mexico
    8. Panama
    9. Canada
    10. China
    And many many more, you add to this list.
    But TODAY, USA 🇺🇸 needs to be in Central America & South America, Before the Chinese.
    The USA has some things NOT to be proud of, but the overall total balance is positive. USA gave these countries law, banks, money. Many countries have had complete monetary failures, & use USA 🇺🇸 Dollars. Yes the same exact dollars bills you have in your wallet. When you travel to these countries, you just use the dollars in your wallet, NO need to exchange. Americans have changed the WORLD. YES, sometimes it's two steps forward & one step back.

  45. It's very simple. The First World nations like US, Japan, and Germany gave HUGE ECONOMIC SUPPORTS and TECHNOLOGICAL SUPPORTS to South Korea during the Cold War. Take a look at the documents about ODA SK was given.
    It's official website of Korean government.

  46. South Korea could be developed country since 1970s by Japan's support of huge money in1965. On this time, in 1965 president Park Chonhee came to Japan to make New agreement between Japan and Korea. And he could got support money as well as 2times of the budget of South Korea year budget from Japan. According to the agreement, Japan gives technology support and continueing ODA too. So Korean miracle development occured. Moreover Japan abandoned all asset which Japan had brought up all infrastructure included eduction.The investment money into Korean peninsula during 35 years was 40billion USD(thiis was estimated by USA occupation force in 1948 offcially , present time conversion from 1/200)

  47. as a korean i think
    all country that has dictator are poor. 40 years ago there was a 2 dictator in korea and we expelled them by pro democracy movement. even 3 years ago we expelled our president cause she did corruption. we can do it cause we have right but i think most another countries don't have democracy. especially in Africa and south America there are so many dictator and all countries are poor

  48. Future is not bright for South Korea. Their economy depends too much on several giant groups which is now doing worse and worse from competitors from China. And it seems to get worse. And their diplomatic strategy is not well done in balancing power between China japan and the US

  49. why is this guy trying to repeat the same thing in another language? even appear to look like simon!!

  50. One more to add, Park Chung-hee was not just a dictator that that is often known to be corrupt and not caring about his country, but he himself was a role model for every South Korean by working hard, being transparent and caring all about his country's development at the same time respecting the country's foundation as much as possible that is a South Korea constitutional laws made based on democracy, capitalism and basic or universal human rights.

  51. 냉전과 분단이라는 특수성을 고려해 보면 미루어 짐작컨대 미국의 역할이 90%는 되었을거라 본다

  52. The Koreans, like the other asians, are still a backward oriental people. they copy others and just, like japan, do it cheaper. they are focused and motivated but that stills only brings up generations to memorize things. its always the same equation. Asians memorizing but never learning. Its not wealthy but simply what should be if any people pays attention. Africa could do it too but also couldn't keep up with the superiority of the west.

  53. funny how they always claim that only free markets will be successful, when in truth, only the non-free markets are actually successful…

  54. During the colonization from japan, Korea's natural resources were purged, citizens were massacred, and hopes were lost. It's amazing how far they came.

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