Korea's Export-Managed Industrialization and Its Lessons

Abstract

Developing countries searching the strategies for solving the critical problems of industrialization and export should adapt their trade policies to the framework of dynamic world trade patterns. Lessons of Korean industrialization is discussed in this context. Korea's industrialization is based on outward-growth policies, as the formation of a production-export linkage has been a strategy for economic development. Korea has clearly demonstrated its effectiveness in realizing export-managed industrialization. Thus Korea's experience has much to offer those potentially industrial developing countries in regard to expanding the export horizon of their industrialization.