Nevertheless, the argument is that the state recognizes the need for a big push and supports its creation through adequate intervention. In other words, by maintaining equilibrium in the economy, the state intervenes to support the coordination of the investments in the attainment of the big push (Arrow, Ig and Yang, 1998)
In such a setting, Park's focus was that of ensuring the rapid industrialization of the country, and his emphasis fell on short-term gains and objectives. He granted little attention to long-term issues, such as free trade or human rights (Gregg, 1999)
Then, another important trait of the big fish economic model is that the combination of the two forces is expected to be integrant and aligned, and to materialize in economic growth. The big fish model is also characterized by the fact that it stimulates an open and free economy, as opposed to a rigid and highly controlled economy (Groning, 2010)
The leader is often criticized for the authority and even dictatorship he used in ruling the country, but he is also praised for the economic growth he helped create in South Korea. At a more detailed level, the ruling of President Park Chung Hee is characterized by the following: Support of the military throughout the entire presidency period; this support took the form of an administrative democracy, which set out to "weed out corruption, strengthen the autonomous ability of people and establish social justice" (Khaled, 2007)
37 per cent and Austria invested 0.40 per cent (Lee and Jeon, 2009)
All in all, the combination of increasing investments in research and development on the one hand, and increased worker education on the other hand, has supported the transformation of South Korea from a centrally planned economy into a market driven economy, in which knowledge workers drive growth and development. Still, the full transition to a knowledge-based economy has yet to be completed and some challenges which remain to be addressed include the decreased participation of the services sector to the generation of the gross domestic product, an underdeveloped financial sector or decreased competitiveness of the South Korean business sectors (MacDonald, 2006)
It also strives to ensure educational equity, especially for the undereducated South Koreans. The primary feature of the Credit Bank System is that it operates based on a market system, in which educational programs are offered in a balance between the needs of learners, as well as the needs of the market (Rubenson, 2011)
S. protection in 1945; its republic was unready for democracy in many years (France-Presse, 2013)
This led to the disagreement of Washington and Moscow, forcing the United Nations to declare the ROK with its capital in Seoul as a legitimate government on the Peninsula in 1948. However, the Soviet rejected the assertion, and in 1950, the Democratic People's Republic of Korea (DPRK) was invaded (Lee, 2011)
S. government helped in establishing a modern state of South Korea and fought its UN- sponsored side in the Korean War (1950-1953) (Power, 2007)
supported ROK in 1948 contributed to the end of political and administrative unity for the Korean nation. War is always a risky business, however as countries use raw political force in achieving their objectives, one country seems to offer a high likelihood of success at the end (Weitz, 2012)
As well as to the other country, and South Korea is one of those countries that has benefited immensely from the diplomatic relations that she maintains with this super power. (Global Politics, USA and the world) The Cold War when it took place outside of Europe was closely related to the Korean War of 1950
South Korea adapted the policy of sweeping economic reforms as 'quid pro quo' for the receipt of a $58 billion from the International Monetary Fund-IMF after her economy suffered from a near collapse in the year 1997. (South Korea-U.S. Economic Relations: Cooperation, Friction, and Future Prospects) After this event, the trade relations between the U
The Korean War is one such example. (War, what is it good for?) However, one good effect that came about because of the Korean War is that the Military Industrial Complex' that was actually in a state of slump due to the War became more energized and measures were taken to improve the U
Due to rapid economic growth and positive governmental behavior, South Korea has become an attractive target country for foreign corporations for their international business expansion strategies (Central Intelligence Agency, 2013). However, these foreign corporations face huge differences in the cross-cultural values, marketing practices and ethical values when they enter into South Korean market (Ball, 2010)
It has made tremendous growth in all manufacturing, industrial, and services sectors to become economically and technologically strong. Due to rapid economic growth and positive governmental behavior, South Korea has become an attractive target country for foreign corporations for their international business expansion strategies (Central Intelligence Agency, 2013)
S. businesses will have to offer products that best match the eating habits, living styles, and cultural beliefs of the South Korean customers (Hill, 2013)
For example, they need to institute an organizational culture where employees should communicate with their local (South Korean) coworkers and customers in a voice tone and accent which is acceptable and understandable for them according to their local communication styles. The employees should also take care of fluency level and selection of technical terms while talking or writing to the South Korean stakeholders (Lee & Trim, 2008)
organizations as compared to South Korean firms. Decision making style is critical to be analyzed while expanding internationally due to its direct impact on the employee performance and organizational productivity (Wild, Han, & Wild, 2011)
From this point-of-view, the ethic principles which Confucius tried to teach can be considered principles that can be applied both at personal and collective level. (Koo,50) The purpose of the philosopher is the well being of the individual, but also the one of society