Seoul, its capital, modernized in a very rapid amount of time to accommodate the needs of business travelers and has brought the country’s colorful traditions and trademark tranquility.
Indeed some figures show up to 60% of economic expansion in South Korea is a result of capital accumulation and increase infrastructure.
Undoubtedly one of the most important rationalisations for economic success is effective government intervention.
South Korea’s economic success as noted can also be contributed to the high levels of savings and investment.
South Korean’s save about 35% of GNP and thus sustainable economic growth has been driven by capital stock accumulation and expanded productive capacity.