North Korea and South Korea were both equally poor in 1950, why did South Korea develop so much faster?

Question

Quizplus · Accepted Answer

South Korea's more market-based economic system allowed for greater opportunities for growth and development. North Korea's economic system is heavily controlled by the government, which limits entrepreneurship and innovation. While South Korea did begin with a slightly higher per capita GDP, it was the economic system and policies that allowed for its rapid development. The language, cultural, and historical differences between the two countries are significant, but not the primary factor in their differing economic outcomes.

North Korea and South Korea Were Both Equally Poor in 1950