Why did the South Korean industrial economy prosper from the 1960s through the 1980s?

Question

Quizplus · Accepted Answer

The South Korean industrial economy prospered due to a high rate of savings. South Koreans had a culture of saving, which helped them accumulate capital for investments in industries like steel, shipbuilding, and electronics. This, in turn, led to economic growth through the 1960s to the 1980s. High wages and massive consumer spending were not major factors in South Korea's economic success during this time period.

Why Did the South Korean Industrial Economy Prosper from the 1960s