ABSTRACT
Throughout the twentieth century, Africa was stigmatized with all the negative symbols of underdevelopment, such as poverty, ill health, corruption, conflicts, and disorder. Since the story of Korea’s economic development is an epitome of all hardship and adversity with which many developing countries share, it could therefore easily draw attention and sympathy from the developing world, thereby attracting a great deal of academic interest in the Korean economic development model. The remarkable story of Korea’s economic development has inspired many practitioners and scholars around the world. This chapter focuses on: Is Korea’s success a model to be emulated for Least Developing Countries? What is the essence of Korean economic development and industrial development strategy? Can the Korean development model be duplicated? How can it be delivered effectively? And what should be taken into account in the field of development consultation?
