Excerpt from :

......
Another major factor was investment. Park normalized relations with Japan in order to gain foreign direct investment. This represented a shift away from the reliance on US subsidies of the previous regime. In the first year, Japan delivered $800 million in aid[3]. This helped to jumpstart investment in infrastructure. Massive infrastructure investments followed increases in productivity[4]. These productivity increases began as a result of a shift to manufacturing. At first the shift focused on light manufacturing. From 1962 to 1975, manufacturings share of the South Korean GDP went from 9% to 27%; agriculture from 45% to 25%

By the 1970s, productivity increases were negligible, and the key driver of growth became increased physical capital. This hints at the role of the Korean people in the countrys transformation. Not only were the Korean people motivated, but the government had begun to make significant investments in the nations education infrastructure. Park had centralized the nations education system and this improvement in South Koreas human capital proved to be essential by the 1970s when productivity gains began to stagnate. Korea had gone from 22% literacy in 1945 to almost 90% by the end of the 1970s. Thus the Korean workers knowledge level

Need this essay? If it's not quite what you're looking for there are over 50,000 more to search from, so you can find the term paper or essay that meets your needs.