CASE STUDY 2: Industrialisation of SOUTH KOREA Flashcards by Abilash Chandralingam Year 10

Q

(2)

How did South Korea become industrialised?

A

INVESTED IN INDUSTRIALISATION
Tarrifs on manufactured IMPORTS: decreased competition (SAMSUNG)

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Q

(3)

What benefits do tarrifs on manufactured imports give to South Korea?

A

More REVENUE + EXPORTS
resulting in MULTIPLIER EFFECT
e.g: KIA tyres –> tyre company –> lorries to transport products –> lorry company.

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Q

(3)

How does lots of taxes improve South Korea’s development?

A

More taxes =
more INVESTMENT by government
Developments in HEALTH, EDUCATION and INFRASTRUCTURE.

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