Vol.11, No.1 | [Article] How Korea has achieved its economic success in contrast to Egypt



Korea’s surprising economic growth in comparison with other pre-colonized countries attracted a lot of attentions in the world. Many researches attribute the successful economic performance of Korea to the Japanese colonialism which was quite different from European colonialism.
However, adopting the Japanese developmental model was not dedicated by Japanese heritage but Korea’s own decision in order to achieve its economic goal. Therefore, it is more correct to say that Korea’s economic achievement can be attributed to Korea’s appropriate policy decisions, using the Japanese economic developmental model to reach economic prosperity, and cooperation between the state and business groups, rather than the Japanese colonial legacy itself. On the contrary to Korea, the Egyptian failure of economic development is mainly because of Egypt government’s inconsistent economic policy and inadequate allocation of national resources, which bring about the failure of mobilization of its private sector and population to economic activity, rather than the negative effect of British colonial rule on Egyptian economy.

Keyword : Japanese colonial rule in Korea, British Colonial rule in Egypt, Korean Economic Development, Egyptian Economic Development, Chaebŏl