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SPEAKER 1: By almost
any measure, South Korea
is one of the greatest development
success stories in recent times.
It has risen from a
state of extreme poverty
to become one of the world's most
dynamic industrial economies,
and a global player in sectors
like automobiles, semiconductors,
and telecommunications.
Rapid growth has been accomplished
despite resource constraints
and geopolitical uncertainties,
and its development strategy
is a source of valuable lessons
for economies around the globe.
This course will review South Korea's
past developmental experiences, as well
as its evolving approaches
to new global challenges.
The course will also
highlight how Korea's approach
could be adapted and emulated by
other economies around the world.
SHAHID YUSUF: First, from a
number of success stories,
why is Korea's experience deemed to be
especially instructive for developing
countries today?
Second, which of the several
facets of Korea's development
are of the greatest relevance for
low and middle income economies?
And third, in what ways
should the Korean model
be modified to take account
of changing global environment
technologies and the new
challenges, such as climate change.
JU-HO LEE: Although Korea began
the process of industrialization
much later than the west,
Korea has simultaneously
achieved astonishing
economic development
and democratic political system thanks
mainly to its investment in people.
SUNGCHUL CHUNG: It took
only 30 years for Korea
to emerge as a major investor
in R&D. What made this possible,
and in particular what motivated
private industries to engage so actively
in R&D and innovation?
EUN MEE KIM: What are the key
characteristics of the Chaebol,
and how did they become so
dominant in South Korea's economy?
Should South Korea rebalance the
country's industrial organization
from Chaebol dominance to
a more balanced structure
with small and medium sized enterprises?
What is South Korea doing to transition
to a more knowledge and service
based economy?
JOYCE MSUYA: The World
Bank Group in Korea benefit
from a very strong and deep partnership
that has spanned over 60 years.
I warmly welcome you to
join experts, academics,
and leaders in Korea's
economic growth, and learn
about the miracle that is South Korea.
Thank you.
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