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Why Korea? Why the KDIC?

Experience of Success as a Small to Mid-sized Country

  • Developing countries with a decent population size will find it easy to emulate Korea's experiences.
  • Korea achieved rapid economic development that its success story is dubbed as the "miracle of the Han River."

Similarities in Initial Conditions

  • Korea has little natural resources or other advantages. So, it can serve as a good model to emulate for other countries.
  • Korea went through various stages of economic development in a relatively short period of time. (Early-stage industrialization, sophistication of industrial production, privatization, market opening, democratization, knowledge society, etc.)

Development Strategies Focusing on Exports and Market Opening

  • The Korean government adopted a strategy heavily focused on exports to foreign markets. The strategy is in line with those of many developing countries today.

A New Model for Development Different from Those of Advanced Countries

  • Unlike western developed countries, Korea started industrialization only after the end of World War Ⅱ.
  • As it was once colonized and received international aid, Korea is well-positioned to understand the unique needs and challenges of developing countries.
  • The Korean government made great efforts to intervene in the allocation of resources and adjust the speed of marketopening.