Comparison of South Korea's Utilization of Foreign Capital in Taiwan Province

Abstract

Since the 1960s, South Korea and Taiwan Province of my country have successively implemented economic strategic shifts. By the mid-1970s, it had become a leader in developing countries and regions, and was known as the "Four Asian Tigers" together with Singapore and Hong Kong. The original economic foundations of South Korea and Taiwan Province are weak. In the 1950s, with the support of US aid, an import-substituting industry centered on the production of non-durable consumer goods such as textiles and food was developed, and the products were mainly sold domestically. By the late 1950s and early 1960s, Taiwan