Heavy and Chemical Industrialization era of South Korea

E617114

The Heavy and Chemical Industrialization era of South Korea was a state-led development drive in the 1970s and early 1980s that rapidly expanded heavy industries such as steel, petrochemicals, shipbuilding, and machinery, transforming the country into a major industrial economy.

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Statements (62)

Predicate Object
instanceOf economic development program ⓘ
historical era ⓘ
alsoKnownAs HCI drive ⓘ
Heavy and Chemical Industry Drive ⓘ
benefitedEnterprise Daewoo Group ⓘ
Hyundai Group ⓘ
LG Group ⓘ
POSCO ⓘ
linked to: POSCO Holdings

Samsung Group ⓘ
country South Korea ⓘ
criticizedFor environmental degradation ⓘ
high external debt vulnerability ⓘ
labor repression ⓘ
overconcentration of economic power in chaebol ⓘ
economicPolicyType export-oriented industrialization ⓘ
state-led industrialization ⓘ
endTime early 1980s ⓘ
focusIndustry automobile industry ⓘ
electronics industry ⓘ
machinery industry ⓘ
petrochemical industry ⓘ
shipbuilding industry ⓘ
steel industry ⓘ
followedBy economic liberalization and financial reform in South Korea ⓘ
governmentTypeDuringEra authoritarian regime ⓘ
historicalContext Cold War ⓘ
impactOn export composition of South Korea ⓘ
industrial structure of South Korea ⓘ
technological upgrading in South Korea ⓘ
implementedThrough Five-Year Economic Development Plans of South Korea ⓘ
initiatedBy Park Chung-hee ⓘ
keyPlan Fifth Five-Year Economic Development Plan of South Korea ⓘ
Fourth Five-Year Economic Development Plan of South Korea ⓘ
Third Five-Year Economic Development Plan of South Korea ⓘ
keyProject Onsan industrial complex development ⓘ
Pohang Iron and Steel Company expansion ⓘ
Ulsan industrial complex development ⓘ
Yeosu petrochemical complex development ⓘ
shipyards in Ulsan and Geoje ⓘ
mainGoal development of heavy and chemical industries ⓘ
rapid industrialization ⓘ
transformation into a major industrial economy ⓘ
majorEnterpriseType chaebol ⓘ
policyInstrument directed credit allocation ⓘ
export subsidies ⓘ
import protection ⓘ
preferential interest rates ⓘ
state planning of industrial structure ⓘ
state-guaranteed loans ⓘ
tax incentives ⓘ
precededBy light manufacturing export-led growth phase of South Korea ⓘ
relatedConcept East Asian Miracle ⓘ
developmental state ⓘ
resultedIn emergence of South Korea as a major shipbuilding nation ⓘ
emergence of South Korea as a major steel producer ⓘ
emergence of South Korea as a newly industrializing economy ⓘ
expansion of export-oriented manufacturing ⓘ
increased urbanization in South Korea ⓘ
rapid GDP growth in South Korea ⓘ
rapid growth of manufacturing sector in South Korea ⓘ
startTime early 1970s ⓘ
supportedBy United States security alliance with South Korea ⓘ

How these facts were elicited

Referenced by (1)

Full triples — surface form annotated when it differs from this entity's canonical label.

Onsan National Industrial Complex → timePeriod → Heavy and Chemical Industrialization era of South Korea ⓘ