South Korea's "Miracle on the Han River"

The "Miracle on the Han River" refers to South Korea's rapid economic development from the 1960s to the 1980s. After the Korean War, the country was impoverished, but through strategic government planning, investment in education and industry, and exports, South Korea transformed into a high-income nation. Key industries like electronics, automobiles, and shipping grew exponentially. This swift growth, lifting millions out of poverty and creating a modern economy, is considered remarkable given the country's starting point, demonstrating how focused development policies and modernization can produce extraordinary progress within a few decades.