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From a poor post-war nation, South Korea has risen to become one of the world's leading developed economies.
Over more than half a century, the country has successfully built key industries such as shipbuilding, electronics, finance, and automobile manufacturing, while maintaining low public debt – despite living next to an "unstable neighbor" called North Korea.
The development model based on market capitalism, democracy, and the private sector was once praised as far superior to North Korea.
However, when compared to other developed countries, the "Miracle on the Han River" begins to show cracks: slowing growth, aging population, record low birth rates, high household debt, and the inertia of chaebol conglomerates.
Is this miraculous growth perhaps an exception sustained by historical luck, rather than a superior model?
And are the current shortcomings enough to slow the development momentum of an economy once likened to an Asian miracle?
In this article, Viet Hustler will analyze the formation, peak, and risk of decline of the South Korean growth model – to determine if that miracle will continue in the post-industrial and AI era.
From the Ashes of War to Rapid Industrialization
Political Liberalization and the Rise of Chaebol
The Dark Side of Chaebol: Monopoly, Corporate Debt, and Wealth Gap
When Chaebol Become an Innovation Barrier
South Korea's Fragile Future





Comments (6)
Bài viết râtz hay. Cảm ơn tác giả và nhóm Viet Hustler!
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Bài viết rất hay. Sau 2 bài TQ và HQ tuần rồi, mình cảm nhận được đúng là nền kinh tế tập trung, bị nhà nước chi phối nhiều là con dao 2 lưỡi. Thanks @Thanh Le và VietHustler
Cảm ơn bạn
bài viết thực sự quá hay, nhưng mình nghĩ vẫn còn rất nhiều yếu tố khác chưa được đề cập tới
Cảm ơn bạn
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