ABSTRACT
Korea’s industrialization, late particularly by Western timelines, kick started in earnest in the early 60s, joined by the formation of the Chaebol, to spear head large scale export-oriented industrialization. According to a recent report by Deloitte (GMCI, 2016), Korea’s manufacturing industry accounted for about 86 per cent of total merchandise exports. The country has come a long way since immediately after Korean Wars (1950–1953) when manufacturing accounted for a mere 12 per cent of GDP to about 30 per cent by 2017. But the industrialization objectives and characteristics, articulated in successive five-year plans under different administrations, vastly differ during the early post-war days to the recent times.
