Heavy-Chemical Industry Drive
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High Quality Content by WIKIPEDIA articles! The Heavy-Chemical Industry Drive was an economic development plan enacted in the 1970s under the regime of South Korean dictator Park Chung Hee.During the 1960s, the Republic of Korea had experienced rapid economic growth following the assumption of power by General Park. The dirigisme policies instated by Park-nationalization of the country's banking system, and directing cheap credit to the export sector--had produced rapid development in the textiles and apparel industries. By the time of the Yusin Constitution of 1972, South Korea had gone from…mehr

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High Quality Content by WIKIPEDIA articles! The Heavy-Chemical Industry Drive was an economic development plan enacted in the 1970s under the regime of South Korean dictator Park Chung Hee.During the 1960s, the Republic of Korea had experienced rapid economic growth following the assumption of power by General Park. The dirigisme policies instated by Park-nationalization of the country's banking system, and directing cheap credit to the export sector--had produced rapid development in the textiles and apparel industries. By the time of the Yusin Constitution of 1972, South Korea had gone from one of the world's poorest nations to the middle rank of countries. However, the country lacked any sort of heavy industry, and was cripplingly dependent upon the United States and Japan for many raw materials and capital goods.