South Korea's growth has resulted from an economic system described as ________________.

Question

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South Korea's economic system is classified as state capitalism, in which the state plays a significant role in promoting economic growth and development through policies and government intervention in the market. The government has historically provided subsidies and protection to certain industries, and has also created incentives for companies to invest in research and development, leading to South Korea's successful growth in industries such as electronics, automobiles, and shipbuilding.

South Korea's Growth Has Resulted from an Economic System Described