The Korean Crisis.
Only by the history timeline of Korea starting from
Japanese occupation, Second World War, Cold war and finally Korean civil War we automatically can expect the poor economic conditions of Korea at that difficult for it period.
At the end of the Second World War Korean peninsula was occupied by the Soviet
forces on the North side of the 38th Parallel and by the US army on
the South of it. Thus each of two global powers had a half of Korea in hands.
After separating Korea into South and North Koreas one was collaborating with
USA and another with USSR and China correspondingly. According to the deplorable
circumstances both Koreas were born in crisis and pursuits of each was to
stabilize the economic position.

The South Korea was caught up in the East Asian Financial Crisis of 1997, which left own consequences to its economic but even so, the country has become one of the world’s largest economies.