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🌉✨𝗘𝘅𝗽𝗹𝗼𝗿𝗶𝗻𝗴 𝘁𝗵𝗲 "𝗠𝗶𝗿𝗮𝗰𝗹𝗲 𝗼𝗻 𝘁𝗵𝗲 𝗛𝗮𝗻 𝗥𝗶𝘃𝗲𝗿"✨🌉 When speaking with your Korean clients and counterparts, you may have heard of the term the "Miracle on the Han River." This refers to the rapid economic transformation and development of South Korea following the Korean War (1950-1953). The Han River runs through Seoul and the term symbolizes the astonishing recovery and growth the country experienced in a relatively short period. Key factors contributing to this miracle include: 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁-𝗟𝗲𝗱 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻: The South Korean government, under leaders like Park Chung-hee, played a pivotal role in implementing strategic economic policies. It actively promoted heavy and chemical industries, focusing on export-oriented growth. 𝗘𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗪𝗼𝗿𝗸𝗳𝗼𝗿𝗰𝗲 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁: Investment in education and workforce training was a cornerstone. The emphasis on science and technology education contributed to a skilled and innovative workforce. 𝗘𝘅𝗽𝗼𝗿𝘁-𝗢𝗿𝗶𝗲𝗻𝘁𝗲𝗱 𝗚𝗿𝗼𝘄𝘁𝗵: South Korea adopted a strategy of exporting goods to global markets. This approach, coupled with the development of major conglomerates (chaebols) like Samsung, Hyundai, and LG, drove economic success. 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗰𝗮𝗹 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻: South Korea rapidly embraced technological advancements, transitioning from an agrarian society to a high-tech industrial powerhouse. Investments in research and development were substantial. 𝗚𝗹𝗼𝗯𝗮𝗹 𝗧𝗿𝗮𝗱𝗲 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽𝘀: Establishing strong trade relationships with other nations, particularly the United States, was crucial. Access to international markets facilitated the export of South Korean goods. 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁: Investment in infrastructure, including transportation and communication networks, laid the foundation for economic growth. 𝗗𝗶𝘀𝗰𝗶𝗽𝗹𝗶𝗻𝗲𝗱 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗣𝗼𝗹𝗶𝗰𝗶𝗲𝘀: The government implemented disciplined economic policies, including fiscal responsibility and controlled inflation, contributing to stability. The "Miracle on the Han River" is a testament to South Korea's resilience, disciplined governance, and the industrious spirit of its people. This economic miracle transformed the country into one of the world's major economies and a technological powerhouse. AKBC runs “Fundamentals of doing business in Korea” training to help our stakeholders better understand the nuances of doing business in Korea. Contact [email protected] if you have a delegation going to Korea. 🇦🇺🇰🇷 #AKBC #AustraliaKoreaBusinessCouncil #AKBCtraining

What's the latest in Korea this week? Stay updated on the latest happenings in Korea this week with the Invest KOREA Weekly Brief. Discover the exciting developments in Korea's dynamic economy and thriving industries. In this edition, we mainly highlight the Korea's support for essential R&D in Science and technology for developing fundamental technologies and next generation. ✨ Yoon gives full support for essential R&D in science, technology ✨ S. Korea proposes trade promotion agreement to Ireland ✨ Korea’s exports rise 5.1% on-year in October ✨ S. Korea to invest over 440 bln won in 6G research, development ✨ Korea unveils blueprint for balanced regional development, innovation Find out more information about Korea : www.investkorea.org #InvestKOREA #Korea #Investment #R&D #Science #Technology #Trade #Export #6G #Innovation #Economy

No one knows China's timing for annexing Taiwan and it remains one of the most debated geostrategic topics. Here's a way to understand the critical factors. Xi's strategic "intentions" are clear & PLA "capabilities" are burgeoning. After 2027, the key factors to watch will relate to "opportunity." Study those to improve predictions. Not all factors carry the same weight, but if various combinations push the vertices of the triangle together, we will be on the knife edge of maximum danger.

🚀 How South Korea Broke the Development Mold 🚀 In a remarkable transformation, South Korea evolved from an authoritarian regime with a closed, state-led economy into a vibrant democracy with an open market. This journey wasn’t about blindly following the Washington Consensus but strategically taking detours and gradual steps. 📊 Key Highlights: - Resilient Start: Post-colonial and war-ravaged, South Korea rebuilt from minimal infrastructure and primary education. - Smart Policies: Under Park Chung-hee, the government prioritized food security and later fostered economic growth by nationalizing banks and controlling interest rates. - Trade Strategy: South Korea balanced high tariffs on consumer goods with low tariffs on capital goods, nurturing domestic industries while competing globally. - Human Capital: Investment in education under an authoritarian regime laid the foundation for future democratic demands and economic growth. South Korea’s methodical, detour-rich path offers valuable lessons in development, showing that measured, context-specific strategies can lead to sustainable progress. An nalysis by Keun Lee, a former vice chair of the National Economic Advisory Council for the President of South Korea. #EconomicDevelopment #IndustrialPolicy #DevelopmentStrategy

Did you know that the United States has become the top destination for #Korean #exports and #investment, surpassing #China for the first time in two decades. Assistant Secretary of Commerce for Global Markets and Director General of the U.S. Commercial Service Arun Venkataraman welcomed Korean Ministry of Trade, Industry, and Energy (#MOTIE) Deputy Trade Minister Yang Byeong-nae this week for the Minister’s first visit to the U.S. Department of Commerce.  The two focused their discussion on flourishing Korean investment in the United States, which over the past few years has included multiple Korean #EV and #battery companies collectively investing $10.5 billion in U.S. high-performance battery and EV manufacturing—supported by the hard work and valuable insights of our Commercial Service team at the U.S. Embassy in Korea and SelectUSA. Overall, USCS Korea has fostered collaborations between South Korean and U.S. companies that is supporting more than 8,500 U.S. jobs.  Assistant Secretary Venkataraman also highlighted our desire to deepen our cooperation with Korea in strategic sectors, particularly #semiconductor #supplychains and the development of secure semiconductor ecosystems. These interests align with ongoing efforts under the Indo-Pacific Economic Framework for Prosperity (#IPEF) Supply Chain Agreement, as well as U.S. national and economic security interests in robust and resilient global supply chains. Partnership is key to securing our future, and we are always happy to continue strengthening our bonds with partners and allies such as Korea. 

The United States and Vietnam elevated their relations to a new level on Sunday. At first glance, the news seem like important but routine diplomatic dealings. It turns out the deal is years in the making and significant in geopolitical and economic ways. For starters, U.S.-Vietnam relations now ranks among Vietnam's highest strategic partnerships--on par with China. The deal also paves the way for billions of dollars in trade and investment and millions in U.S. government seed money for Vietnam-based semiconductor business. Finally, it demonstrates the willingness of leaders to overlook philosophical differences over the best form of government (i.e. democratic government vs. communism) to advance strategic interests. For more, see https://lnkd.in/gPyfCcvp

South Korea, with a far larger exposure to the Chinese economy, provides some pragmatic lessons in finding a policy response that is centered around economic competitiveness as a key feature for improved economic security. Stronger Germany-South Korea cooperation in economic security could help foster stronger competitiveness of both countries’ companies and help resist policies that risk over-securitization.  See joint piece with Seungjoo Lee here: https://lnkd.in/ewPuYhhv

From the article. That's the greatest achivement of any country in recorded history. And they accomplished that without invading, looting, murder and causing havoc in other countries. "China's transformative ascent since 1978 stands as the most significant game-changer in my lifetime; I can personally bear witness to the nation's remarkable trajectory from being the 180th per capita economy to the second biggest in the world. When I first visited China in 1984, it was among the poorest countries in the world, with no skyscrapers or personal cars, with no high-speed railway or any sort of high tech. Most Chinese at the time ate rice or noodles and wore very simple clothes. Today China is a showroom of modernity. It aims for an ecological civilization and is pursuing a Chinese path to modernization. China's rise heralds a new, multipolar world, disrupting outdated paradigms but offering unprecedented opportunities for global collaboration. The world, including the West, should celebrate its ascent."

The peaceful future of this planet can not be happening in the world of duality. #Multilateral world is evolving and can only be based on multicultural and multilayer engagement of all continents. The future is defined by the quality of #relationship, the transparency of #trust, and the capacity to #understand. Or as Erik Solheim says: “Let’s show more curiosity towards other civilizations and respect for each other.” We have all that it takes to enter a new era with a new mission and purpose for humanity. And #togetherweknow #togetherwecreate #newhope and #togetherwethrive Ecocivilisation Europe - Asia Center G100: Mission Million Matic Gajšek @Franc Matjaž (Tičo) Zupančič Martina Puc Mar Introini, PhD Andreja Kodrin