Introduction

In the early 1950s, South Korea was one of the poorest countries in the world. But just a few decades later, it had grown to become an upper-income country and one of the largest economies around. How did South Korea do it? Some point to the early 1970s when they implemented a massive industrial policy called the heavy chemical and industry drive. Nathan Lane is a professor at the University of Oxford. He will share some of his new research into how did South Korea's industrial policy work.