Describe the role of Communism in shaping the economic policies of Park Chung Hee and Lee Kuan Yew. Solution Park played a pivotal role in development of South Korea\'s tiger economy by shifting the focus to export-oriented industrialization. South Korea\'s per capita income was only US$72.00, when he came to power in 1961. North Korea was a greater military and economic power due to the legacy of high industrialization like the power and chemical plants, and the high amounts of economic, technical, financial aids it obtained from other communist countries such as Soviet Union, and China. South Korean industry saw great development under his leadership. Government-corporate cooperation on increasing South Korean exports aided the growth of some South Korean companies into present day giant Korean financial conglomerates. Park also created some economic development agencies: .

1. Describe the role of Communism in shaping the economic policies of Park Chung Hee and Lee
Kuan Yew.
Solution
Park played a pivotal role in development of South Korea's tiger economy by shifting the focus
to export-oriented industrialization. South Korea's per capita income was only US$72.00, when
he came to power in 1961. North Korea was a greater military and economic power due to the
legacy of high industrialization like the power and chemical plants, and the high amounts of
economic, technical, financial aids it obtained from other communist countries such as Soviet
Union, and China. South Korean industry saw great development under his leadership.
Government-corporate cooperation on increasing South Korean exports aided the growth of
some South Korean companies into present day giant Korean financial conglomerates. Park also
created some economic development agencies: