The Republic of Korea (South Korea) is now considered a major world economy after emerging from a debilitating war 60 years ago.
In tracing the Korean experience, The Standard Editor Nevanji Madanhire (NM) spoke to Lew Kwang-chul (LK), the Asian country’s ambassador to Zimbabwe.
NM: After the Korean War that ended in 1953, what were the major challenges you faced? LK: We had a number of challenges at that time. First of all, it was the reconstruction of the nation in the wake of the devastation of the war. In order to do this, we had to develop our economy. That’s why we started a long process of industrialisation. Secondly, it was the supreme target of the nation to strengthen security against the threat of the communist regime in the North.
NM: How did you overcome these challenges? LK: It was the result of all-out efforts by the people and the government. Government has taken many initiatives such as five-year Economic Development Plans. Basically the government has taken an export-oriented policy and nurtured industrial capacities in many sectors. Formation of the triangular cooperative relationship among government, industry and academia also contributed to accelerating the economic growth. On the other hand, security of the nation was much more strengthened by signing of the Mutual Defense Treaty between Korea and the USA.
NM: Zimbabwe is going through many challenges now; which ones do you think you also went through? LK: Zimbabwe’s situation is somewhat different from Korea’s. But we share some common elements. In my view, these are, among others, attainment of democratisation and a market-oriented economy. And I believe Korea has gone through various challenges fairly well to attain these two goals.
NM: What solutions would you recommend? LK: On the political front, you need to establish the political culture that is both predictable and transparent. On the economic front, you need to introduce good business-friendly policies which can draw more foreign investment and expand the private sectors.
NM: I see you went through a military phase until 1987, what led to this? Please qualify the role the military played? LK: The military rule is a part of Korea’s modern history. It has brought both positive and negative effects on the Korean society. The consistent implementation of strong and proactive export-oriented economic policies could not have been possible without the strong guidance and leadership by the military government in the 1970s. However, in the process of mobilising people’s power for the economic development path, the military government suppressed their aspiration for democracy and pluralism. This is why Korea experienced a chaotic and tumultuous time during the 1980s until the democratic process eventually bore fruit in 1987.
NM: Your economy is Asia’s fourth largest. What’s the secret of the Korean Republic’s success as an economy? LK: There are numerous factors behind Korea’s economic progress. Basically, it is due to the combined perpetual efforts of the people and government of Korea. Though the roles played by the government and the private sector were different from each other, the goals and objectives were just the same and the efforts were jointly exercised in a cooperative and harmonious manner. In the 1970s, government played its role as a locomotive. Government-led economic development strategy was floated and implemented.
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In the 1980s, government played its role as facilitator. Its role was like scratching the back of the business sectors when they were faced with difficulty in the international arena by, for example, providing the policy financing. In the 1990s, government played its role as honest umpire. It laid a foundation for a level playing field where civil sectors’ creativity could be exerted and free and fair competition could be guaranteed.
NM: What lessons can Zimbabwe learn from this? LK: The division of work between the government and private sector is inevitable. But they must work together in harmony, cooperation and mutual support. Government can do a lot of things for the growth of the private sector through introducing positive legislation, providing incentives and financial support. In any case, politics should not get in the way of economic development. Enhancing predictability and transparency both in political and economic activities is also important.
NM: Which are the pillars of your democracy? LK: Like many other countries, the basic principle of democracy in Korea is the division of power, checks and balances among constitutional institutions, and peaceful transfer of power through free and fair elections. All government activities should be of the people, by the people, and for the people.
NM: What do you think really undermines the functioning of Zimbabwean democracy? LK: Zimbabwean democracy needs to strengthen the system of checks and balances among constitutional institutions. Zimbabwe’s electoral democracy needs to be consolidated. Among others, all public activities must be done for the good of people.
NM: What do you think is the relationship between democracy and development? LK: Democracy and development can stand together. They can be mutually supportive and complementary. But we have seen some cases of development in the framework of authoritarian leadership. One may think this will be a matter of choice. Still, we prefer to achieve economic development in parallel with the democratisation of the country.
NM: Which major exports drive your economy and which countries have really helped you in your industrial revolution? LK: Korea is an export-driven economy. Major export items include automobile, steel, machinery, petro-chemical products, ICT products and others. Currently, Korea’s major markets are China, US, Japan, other Asian countries, the Middle East, and European countries. But Korea is now broadening her horizon towards South and Central America, and, of course, Africa.
NM: Any advice to Zimbabwe on how they can achieve rapid industrial growth considering its potential LK: Zimbabwe has a good potential of economic development. One never misses to mention about rich natural resources, good climate, good people, qualified education system, rich young labour force, growing middle class, and so forth. If you can add political reform, good governance, and sustainable and workable policies to this existing list of potential, I think Zimbabwe could restore its glorious past in no time.
