Benefitting from the Korean Miracle and Diversifying our Economic Relations
The Republic of Korea (ROK)’s development record is arguably the most impressive since the end of the Second World War. The country experienced harsh Japanese rule and subsequently the Korean War (1950-53) which resulted in the partition of the peninsula. ROK has, therefore, had to come through periods of conflict involving each of its two larger neighbours: Japan and China during the last 100-years. Despite this, thriving economic relations with its two neighbours have been a major part of ROK’s success over the last five decades; as has been the US defence umbrella and economic support.