Korea What distinguishing factors help explain the rapid economic growth experienced by the South Korean economy over the past four decades? As the South Korean economy has reached a more mature stage of its economic growth, what are the evolving challenges it has had to face? What are its prospects of continued economic success in the increasingly globalised world economy? The rapid growth and development in the newly industrialising economies (NIE’s) in recent decades has been nothing short of spectacular. Now among the world’s most dynamic industrialised economies, the NIE’s of Singapore, Taiwan Hong Kon