Korea's experience with the development of trade and industry

For a majority of Latin American countries, the 1980s have been fraught with economic crisis and politically difficult adjustments. Korea, on the other hand, successfully adjusted to the 1979 oil shock and managed to skirt the depressed international economy of the early 1980s and achieved high growth rates up to the present. An important element of this adjustment can be found in Korea's policy framework and orientation and institutional arrangements. An historical perspective on Korea's development since the mid-1950s was presented to participants in order to define the socio- and geopolitical context within which the present system of policy evolved so as to understand better its foundations.