WBGx: Policy Lessons from South Korea's Development
Learn about South Korea’s remarkable transformation from a low- to high-income economy in only three decades.
Learning Journey Context
Works well as a continuation after mastering Economics & Finance fundamentals. It bridges the gap toward advanced, production-level engineering.
Relevant for professionals pursuing roles within Economics & Finance.
Quick Facts
What You’ll Learn
South Korea presents a compelling story of economic growth. It’s one of few countries that made the transition from a resource-poor, low-income nation to a high-income economy in only three decades. It offers a model for developing countries and in this MOOC, leading experts will explain how South Korea achieved this outcome by implementing an export-led industrial strategy.
This course examines South Korea’s past developmental experience as well as its current strategy and policy initiatives to overcome global and domestic challenges, and sustain economic growth into the 21st century. You’ll have an opportunity to consider and discuss institutional and policy lessons applicable to the developmental challenges facing your own countries.
The course will be of interest to all those wanting to learn how South Korea was transformed into a high-income, with the help of a highly skilled workforce, and the development of high-end manufacturing and services sectors. Also of great interest is Korea’s creation of a futuristic city, Songdo, equipped with smart and green technologies. This MOOC will be of particular interest to policymakers involved in economic development.
The course has been developed by the World Bank Group in collaboration with Korea Development Institute, and is taught by prominent representatives of academic and research institutions in South Korea and the United States.
Outcomes
- The factors that contributed to South Korea's remarkable performance from the 1960s to the 1990s and how some of its policies could be applied to similar effect today.
- The strategies used to build a science, technology and innovation system and to nurture innovation capability.
- The forward looking developments promoting diversification into advanced manufacturing, tradable services and digital/green technologies.
- Current efforts to upgrade skills and productivity of an ageing workforce and the strengthening of a social safety net.
- The city of Songdo; the effectiveness, scalability and applicability of its green and smart technologies.
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