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Upstream Foreign Direct Investment by Korean Manufacturers

In: Development Perspectives for the 1990s

Author

Listed:
  • Wang-Taek Jun
  • Renee Prendergast

Abstract

Since the launching of its first five-year development plan in 1962, the Korean economy has grown rapidly. Between 1962 and 1987, per capita GNP in current prices rose from $81 to $2690. During the period, real GNP grew at the rate of over 8 per cent per annum and per capita real GNP at 6.4 per cent. Rapid growth was accompanied by deep structural change. In 1965, agriculture accounted for 38 per cent of GDP, industry for 25 per cent and services 37 per cent. By 1987, the share of agriculture had fallen to 11 per cent, that of industry had risen to 43 per cent and services to 46 per cent. In the same period, the share of manufacturing in GDP rose from 18 to 30 per cent.

Suggested Citation

  • Wang-Taek Jun & Renee Prendergast, 1991. "Upstream Foreign Direct Investment by Korean Manufacturers," Palgrave Macmillan Books, in: Renee Prendergast & H. W. Singer (ed.), Development Perspectives for the 1990s, chapter 6, pages 103-125, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-21630-7_6
    DOI: 10.1007/978-1-349-21630-7_6
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