The Korean economy has achieved remarkable growth during the last 6 decades. At the time of Korea’s independence from Japan in 1945, Korea was one of the poorest countries in the world. Moreover, the division of the Korean peninsula and the Korean War in 1950 has made the South Korean economy in miserable condition. In many senses, Korea fell in the poverty trap where the vicious cycle of poverty and under-development had re-enforced each other. However, the growth performance of the Korean economy after the end of the war in 1953 was truly remarkable, and many people call it as the “Miracle of the Han River”.

I am very glad to have an opportunity to deliver the progress Korea has made on the internet. I hope you would enjoy my lectures as well as all the additional services this course provides. It would be my great pleasure if you could enhance your understanding about Korea and development economics in general by the time you finish the course.