How Did South Korea Get Rich With Its Dark Side? | South Korean Economy | Econ

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In this documentary, the challenges behind South Korea's economic success 🇰🇷 are uncovered. Despite rapid growth and becoming one of the world's top economies 🌍, the country faces serious issues like rising inequality 📉, financial stress 💰, and heavy reliance on large conglomerates (chaebols). Has South Korea gotten rich with its dark side? 👀 #southkorea #economy #northkorea

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[econYT]

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[vanphan]

Because Korea is an economy dependent on the international market, the competition between people to win and lose is fierce, stressful and deadlocked.

[uu]

People say Korea is small and I understand because compared to Japan, China, Russia, it is very small. However, globally it isn’t that small as you think. It is literally ranked 29 out of more than 190 countries. Population of 51 million is not a “small population”. It is bigger than Spain, Ukraine, Canada, Poland, Saudi Arabia, Australia, Argentina etc.

[kiwioppaz]

Half of Korea doesn't live in Seoul. Seoul is little less than 10 million now. You meant to say half live in greater Seoul, which is actually Gyeonggido/Incheon area.

[raymondmainamugure]

And to think that in 1963,
My native Kenya was far more developed than South Korea.

[OULLIM_SP]

As a Korean, I am deeply impressed by the expertise showcased in this video. However, I believe there's a crucial piece missing from the narrative. Ultimately, the root of all the problems in Korea lies in the harsh reality that to survive in the global arena, we must live this way. This is by no means an exaggeration.

South Korea has a small population of 50 million, a domestic market too small to sustain a robust economy, and a land area less than half the size of England, much of which is mountainous and unsuitable for agriculture. Naturally, we also lack natural resources. Given these harsh conditions, the only viable path for Korea's survival is to leverage its human capital. These challenges have forced Korea to become an extremely competitive society where individuals must constantly strive to improve their skills.

Of course, there have been movements to address these societal issues by adopting a more leisurely European lifestyle and reducing competition. However, the recent resurgence of the Cold War, the rapid rise of China, and the decline of Europe have led to a renewed national consensus that we must once again work diligently. Unless artificial intelligence can solve all of our problems, I believe these challenges will persist.

[grokker]

I dont know of (besides oil rich countries) any other country as small as S. Korea that is as powerful both culturally and economically.

[harkritsingh]

i am always amazed how a small country is ruling the world in technology, cinema, culture

[MT-krcn]

South Koreans are hard fighting people. They know that life is harsh, therefore they work 10 times harder to improve their lives. My highest respect to them

[ytnb]

S.Korean economy is still increasing despite the drop in population growth due to S.Korea successfully transformed into high value added economy, S.Korea no longer makes profits from exporting cheap electronics.

[yuchan]

"25% of South Korean GDP is Samsung" Bro just copared market cap with GDP 💀

[Victor_mikel]

Love south korea 🇰🇷 from philippines 🇵🇭

[TheJohnlyh]

They cramped two distopian countries in one continent, to the north a communist distopia, to the south a capitalist distopia

[waichui]

The question is: does South Korea have a free market economy? Can a country dominated by a few huge conglomerates be a free market economy? Is it really a feudal state with modern equipment?

[doctorwhosit]

“Money can’t buy happiness. It’s clichéd but true.”

-Todd Sweeney of MLaaTR

[NoBrainMob]

People praise Singapore's Lee Kuan Yew, but he was a dictator longer than South Korea's Park Chung hee, His son even became hereditary prime minister. But no one is accusing Lee Kuan Yew of being a dictator. Unlike Singapore, which did not have to fight an ideological war during the Cold War in the 20th century, South Korea has been a victim of a proxy war of ideology that has divided its territory to this day. Most accusations of dictatorship or democracy in South Korea come from opposing sides of the ideological war. What could a liberal regime do in an ideological war when one side is capitalism, and the other is an authoritarian communist?
Paradoxically, South Korea's economy has become a structural mess since the end of the dictatorship. The social problems you mentioned, such as suicide rates, household debt, and income inequality, did not exist under the dictatorship. If there is a question to be asked about South Korea at this point, it is: why has life become more difficult for its people in the past 30 years since the end of dictatorship and the advent of democracy?

[lllqq]

As long as you fail to appreciate the talent of South Korean artists and the rich potential of the Korean people who produce them, and continue to hold onto the stereotype that they are factory-produced, your status will continue to fall.

[pittasdfasdf]

As a Korean, I deeply agree with what you said. "Normally, I am quite impatient with the argument that capitalism lead one to unhapiness. However, there is a definitely dark side of South Korea."

[puregold]

Korea is making a country that no other country has ever been to. Look forward to it
That will be the future of the world soon

[gregoryferraro]

The Korean Peninsula is an interesting study on how uniquely terrible both late stage Communism and Capitalism are.