Economic Success Story, the South Korean Way Levi Springer Faculty mentor: Alexander Mechitov University of Montevallo
This presentation covers how South Korea rapidly transitioned its economy from one that survived by agricultural means, to one that thrives from exporting some of the most sophisticated hardware on the planet today. Being very land poor South Korea knew that they would need to focus on quality rather than quantity and produce a few specialized products. We will analyze how this was done by investing heavily in human capital, and putting a great deal of emphasis on the importance of education. Today this country has some of the highest student test scores in math and science in the world. Secondly, South Korea began investing heavily in research and development, becoming a world leader in high tech industries. Third, South Korea has developed a business environment that makes it very easy to do business. Lastly we will discuss specifics of the Korean culture that accomplishes tasks as effectively as possible.
Levi Springer is a marketing major at the University of Montevallo from Maylene, Alabama, which is about 30 minutes south of Birmingham. He is considering furthering his academic studies through a graduate program.
