A Glimpse into Korean Startup Ecosystem

By StartUp City | Monday, February 22, 2021

South Korea and North Korea were dirt poor during the Korean War. In reality, many people don't know that North Korea was in better shape than South Korea after the Korean War.

Fremont, CA: Given the effects of COVID-19, the Korean Startup Ecosystem is stronger than ever in 2020. The South Korean government has done a fantastic job of flattening the COVID-19 curve by harnessing technology. It may come as a surprise to some that the economy of South Korea is now the fourth largest in all of Asia.They have one of the best wireless infrastructures, but Korea is still not known internationally as a start-up technology centre. This is because, in just 60 years, their rise from being one of the poorest countries in the world to a highly industrialised country is not widely recognised.South Korea's success proves that good economic governance is much more important than natural resource resources in deciding the nation's success.

South Korea is indeed a mystery. This is because South Korea is only one of three countries in the world where Google is not the main search engine. As a result, the world does not have access to information relevant to South Korea, because much of the content is on Naver, a search engine that is not used outside Korea.Despite this, however, South Korea continues to be one of the fastest-growing developing countries in the world.

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Post-Korean War

South Korea and North Korea were dirt poor during the Korean War. In reality, many people don't know that North Korea was in better shape than South Korea after the Korean War. North Korea controlled much of the industrial infrastructure, while South Korea relied mostly on agriculture. North Korea had great support from Russia and China, while South Korea had no support from its ally, the United States. A third of the South Korean population was homeless, and the government relied on little assistance from the United States.However, North Korea has struggled to make progress since the war, while South Korea has become an economic powerhouse. How did this happen on Earth?

Things began to turn around for South Korea in the mid-1960s. The United States and South Korea fought together during the Vietnam War. South Korea has brought more than 300,000 men to fight in Vietnam. In return, the United States offered assistance to South Korea.This meant that South Korea had the cash flow it needed to build up the infrastructure it needed to transform its country. Much of the international assistance has gone through modernization programmes and the development of schools.

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