North Korea’s Choice
NEW YORK – When the Republic of Korea was established in 1948, Korea was one of the poorest countries in the world. GDP per capita was US$67 in 1953, immediately following the Korean War, and rose to only US$79 in 1960. At that time, North Korea’s economy was much stronger than that of the South. Natural resources were abundant in the North, and even electricity was supplied from North to South. Most industry was located in the North, whereas the South was mainly agricultural.
Today, the South’s GDP is 40 times larger than that of the North. Comparing the two Korean economies is virtually meaningless.
Such disparities do not arise from different historical experiences, because Koreans have shared a history for thousands of years as one nation. The gap, instead, reflects recent historical choices.