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"Miracle on the Han River" (Hangul: ??? ??; Hanja: ??? ?? Hangangeui Kijeok) is a phrase used to describe the period of rapid economic growth that took place in South Korea from the 1961 coup of General Park Chung-hee to the 1997 Asian financial crisis. In particular, this phrase refers to the economic growth of Seoul, through which the Han River flows.
The word "miracle" is used to describe the growth of postwar South Korea into the world's 13th largest economy, something considered to be impossible by many at the time. Seoul's infrastructure was totally destroyed by the Korean War and millions lived in poverty at the time, with thousands of unemployed people struggling to fulfill basic needs. In less than four decades, this "hopeless" city was completely transformed into the world's 22nd-most productive, a centre of business and commerce in Asia and a highly developed world city and economic hub, having among the most advanced technological infrastructure in the world. It is considered by many Koreans as a symbol of national pride and "can-do" spirit.
Origin of the term
The phrase "Miracle on the Han" comes from the "Miracle on the Rhine", which is used to describe the economic rebirth of West Germany after World War II, resulting from the Marshall Plan.
See also
External links
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