concept of differential pricing for educational attainment. Higher levels of formal educational attainment are held to increase the value of the human capital possessed and offered by the individual.
Korea also has performed well in relation to public health. (Hunter 800). The country is served by almost 50,000 physicians and by almost 7,000 doctors of oriental medicine.
Korea has attempted to gain recognition and acceptance in a global context. The nation generally has failed in this effort, however, because of the unwillingness of the Korean government to open itself to public scrutiny.
Major economic goals of the Korean government are to continue the improvement in the economic welfare of the nation's citizens, to make the nation self-sufficient economically, and to raise Korea to the status of an industrial (developed) nation. Unlike the major industrial firms in Japan, Korea's major industrial firms have tended to exploit the country's workers, as opposed to providing them with the long-term security and acceptance found in the Japanese model. One consequence of this approach has been the development in Korea of acrimonious relations between labor and management. The growing labor strife in Korea is a threat to its continued economic progress.
During the decade of the 1980s, South Korea emerged as a middle-industrial power. In the structure employed by the World Bank, Korea is grouped in the upper middle income sub-classification of the middle-income economies classification, along with such countries as Argentina, Brazil, Greece, Hong Kong, Mexico, Singapore, South Africa, and 16 others.
Real per capita gross national product (GNP) in Korea grew at an average annual rate of 9.8 percent during the 1980s. Although this rate of growth was higher than that recorded in the 1970s, it is of even greater significance because it proceeded from a much higher base point. Growth has continued in the 1990s, altho...