Abstract
A few decades ago, South Korea was one of the poorest countries in the world. However, astonishingly, in a few decades South Korea has become one of Asia's tigers economies . It is now also recognized as a developed country by the World Bank and the International Monetary Fund. Additionally, South Korea is a provider of high technology and it exports its pop culture to the culture. (Tom,2011) South Korea's economic take-off was known as the ‘Miracle on the Han River’. This paper gives insights in the development of South Korea. It explains the following questions : how can South Korea achieve its current achievements? What are the challenges that South Korea may face in the future?And are there approaches available for South Korea to solve those challenges ?
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