The State as Sentinel – Catch-up Strategies in the Far East, Part II
The State as Sentinel – Catch-up Strategies in the Far East, Part II

Summary/Abstract: As a result of its almost unparalleled economic growth, today South Korea is one of the leading players in the global marketplace and one of the wealthiest countries in the world. The Republic of South Korea is one of the economic success stories of the first wave of newly industrialized countries. Barely a few decades ago the country’s economy was essentially at the level of a third world country. In 1948, at the time of the founding of the Republic, it was one of the poorest countries in the world. In 2010 the per capita GDP was $29,791, and according to data of the Bank or Korea the pace of economic growth was 6.1 per cent (ITD Hungary, 2011).

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