The Importance of Export Promotion in South Korea

In the 1960s, Park Chung-hee came to power in South Korea. He was inspired by what Japan had done after Second World War and re-industrialized. The new policy approach focused on exports rather than domestic production. If you could export, you got goodies; if you couldn't, you didn't have to pay customs duties. Some people think of Korean export regime through lens of wig manufacturing.