South Korea innovation

The division of Korea into North Korea and South Korea stems from the 1945 Allied victory in World War II, ending Japan’s 35-year colonial rule of Korea. In a proposal opposed by nearly all Koreans, the United States and the Soviet Union agreed to temporarily occupy the country as a trusteeship with the zone of control demarcated along the 38th parallel. [Wikipedia]

South Koreans refer to this growth as the Miracle on the Han River. The South Korean economy is heavily dependent on international trade, and in 2009, South Korea was the eighth largest exporter and tenth largest importer in the world. [Wikipedia – The economy of South Korea]

new world powers innovation

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North Korea’s economy remains one of the world’s last centrally planned systems. The role of market allocation is sharply limited – mainly in the rural sector where peasants sell produce from small private plots. There are almost no small businesses. Although there have been scattered and limited attempts at decentralization, as of mid-1993, Pyongyang’s basic adherence to a rigid centrally planned economy continues, as does its reliance on fundamentally non-pecuniary incentives Wikipedia – Economy of North Korea
two koreas gdp

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