North and South Korea Essay Example for Free

normality and South Korea EssayNorth Korea and South Korea are similar but yet different in many ways, such as in economies. North Koreas frugality seems to need support from other countries to survive. South Koreas seem as well fitted to rebuild their economy even stronger than it was before from the Korean War.North Korea is under a set communist dictatorship. N. Koreas leader is Kim Jong II. He came to power in 1994 afterwards his father died. North Korea has a large military and command economy. The average Korean person lives in poverty. The impoverished population is dependent on government taxes in housing and food. The farming is based on inefficient communist state farms. drought and floods cause food shortage. In 1990, when the Soviet Union aid collapsed, North Korea economy collapsed with it. South Koreas economy is military dominated. In South Korea, there is more rights and freedom than North Korea. With the help of U.S., they were able to recover after the K orean War. They developed from a poor country into an industrial export economy in just a few years. Now, South Korea has major industries such as shipbuilding, steel, automobiles, textiles, and electronics. In gear up to rebuild their economy, they set up a business model.Chaebol is a family-owned business, dominated South Korea economy and semipolitical system. They control about all of the manufacturing and exports in South Korea, with this factor it prevents competition from other countries and led to decomposition and debt. South Koreas government passed out forms to improve their country economy with ideas of have an open marketplace to foreign investment and competition. S. Koreas capital, Seoul, is the growing industrial center of South Korea. Seoul became successful after the Korean War. South Korea economy is a market economy system and North Korea has central plan economy. South Korea market economy has improved, in thing such as GDP of domestic product, since the Ko rean War.