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South Korea has achieved a high economic growth rate of 10% on average since the government promoted economic growth policy in the 1960s. Such high growth was possible because of the success of the government-led export-oriented economic growth. The South Korean government implemented a low-wage and large-scale economic policy to foster export industries. In this process, large corporations led economic development by a method of growing scale rather than real profits through loose corporate management centered on borrowing, and grew up relying on strong government protection and training policies.

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