Talk:Korea under Japanese rule
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[edit]- According to statistics of the colonial Japanese government, it is obvious that there was considerable change in Korean economy during the Japanese occupation, however, it was fragmentary and very insignificant. As Korea's economy under the Japanese occupation had dual structure based on nationals and areas, Japanese economy grew rapidly, however, Korean economy relatively slowed down. And as economic development was focused on northern areas of Korea, the effect of economic development didn't contribute to southern areas after Korea's liberation. Therefore phenomenal analysis of Korean economy could not but be considerably different from fundamental analysis of Koreans, and it was not until Korea's liberation in 1945 when the colonial economic structure was cleared that economic development in the real meaning for Koreans was possible. This clearly shows the reason why independence movement during the Japanese occupation was so important to today's Korean economy.
- Soo-yeol Heo, "Koreaʼs liberation in 1945 and its economic development" (2012)
- North Korea abolished the colonial legal system, including civil and commercial laws. However, the country inherited and strengthened a wartime command economy. Regardless of wartime demand or socialist ideology, restriction on or abolition of a market and private property system makes it inevitable that the economy depend on command. In spite of political differences, that is why the two economies seem similar.
On the contrary, however, South Korea returned to a market economy from a wartime command economy, and inherited a legal system and market regime before the Sino-Japanese War. The country regained monetary and tariff autonomy at the price of rapid inflation and retreat from an open economy. Experiences during the wartime command economy have also affected South Korea and caused government interventions in foreign exchange and financial markets. After policy shifts in the 1960s, which made the country’s economy more open and with less government intervention, South Korea was able to head into rapid economic growth.- Kim Nak Nyeon, "Japan's Colonial Legacy to Korea with Special Reference to Economic Institutions" (2010)