ABSTRACT
This historical evolution of Korea’s trade and industrialization policies has accompanied rapid growth of GNP and structural transformation, particularly since the transitional phase. During the past twenty-eight years, from 1962 to 1990, the country’s GNP grew at an average annual rate of about 9 per cent, and per capita GNP increased nearly seven times, from about US$520 to $3,494 in 1985 constant prices. This GNP growth was led mainly by the manufacturing sector, which grew at an average annual rate of 15 per cent during the same period. The manufacturing sector’s share in GNP more than doubled, increasing from 14 to 30 per cent over the same period, whereas the agriculture-forestry-fishery sector’s share declined sharply from 37 to 9 per cent.
