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 38^th 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.

   Behind the Civil War when both Koreas were ruined, South Korean economy was rebuilt with mostly US aid and investment however economy of North Korea couldn't achieve that by the reason of the Vietnam War in which North Korea concluded an agreement on free aid to Vietnam. In addition hostile relations between Soviet and China were not making better the position of communistic Korea and convinced it to be self-reliant. Furthermore the dissociation of USSR and fiasco of communism in Europe was a tragedy for North Korea. This all is an unlucky issues on the way of developing its economy. 

 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.