ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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STEEL-South Korea Pointers to a New International Division of Labour

STEEL South Korea: Pointers to a New International Division of Labour Bernard D'Mello FOR quite sometime now, the attention of development economists has been turned to the structural transformation of the South Korean economy and its possible lessons for other third world economies. In an earlier period, 1968-74, Brazilian industrial development was held up as a model worthy of emulation by other third world countries. More recently, sled technologists, bureaucrats and politicians in the Department of Steel have begun focusing their attention on the South Korean steel industry. And now, a three-person delegation headed by the steel secretary, R P Khosla, has visited South Korea's Pohang Iron and Steel Company to determine how this government-owned firm has been able to build a surplus of US $1.0 billion by 1983 which is presently being used to finance its new steel plant at Kwangyang.

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