Getting entrepreneurial in Korea (Summer School)
About this episode
The episode explores the economic transformation of Korea, focusing on entrepreneurship in both South and North Korea.
This week’s stop on our world tour - Korea. A country divided into two very different power structures since the end of WWII. Today South Korea is the maker of some of the world’s favorite exports – from Samsung TV’s to BTS. But 75 years ago it was a much different story. How the textile industry and a partnership with Bangladesh lifted the country out of poverty and paved the way for rapid economic growth. Then later in this episode – how entrepreneurial endeavors look different on the other side of the 38th parallel. We’ll follow a woman who started her own small business selling goods in North Korea. How are the Donju, members of the affluent entrepreneurial class, faring and can capitalism exist in a highly restrictive socialist society? Featured Episodes: Richard Nixon, Kimchi and the first clothing factory in Bangladesh (2013) North Korea's Capitalists (2017) Featured Terms: Volatility Inflation expectations Capital controls Austerity Support: NPR+ (sponsor-free listening & bonus episodes) And please click “follow” in your podcast app so you don’t miss an episode. Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life ( Audiobook here ) Our weekly…
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