South Korea has undergone a remarkable transformation from an underdeveloped nation with an uneducated population and struggling economy to a symbol of human resilience and innovation, boasting advanced infrastructure that rivals European nations. The country now proudly produces hundreds of thousands of university graduates every year.
South Korea's rapid economic development has transformed it into one of the world's most developed nations, but this progress has come at a cost. The country now faces high suicide rates and unhappiness among its population, revealing the complexities and far-reaching implications of such rapid development.
South Korea was left devastated after the Korean War in 1953, with a majority of its population illiterate and economy based on rudimentary agriculture. However, the government's decision to shift from agrarian to industrial economy by staking their economic future on select family-owned conglomerates facilitated South Korea's astonishing economic growth in the early 1960s.
The South Korean government provided substantial support to tables, which were expected to fuel economic growth and aggressively penetrate global markets. This led to a surge in demand for advanced skills within the country, resulting in an education fever sweeping across the nation.
South Korea's education system has been successful in producing a highly educated populace, but the intense work culture instilled by conglomerates like The chables is becoming increasingly toxic. While these companies account for 85% of the country's GDP, they only offer about 10% of jobs and have adopted a business model that allows them to thrive without boosting hiring. As a result, college graduates face higher unemployment rates than their non-degree holding counterparts and are unable to utilize their hard-earned education in society due to societal stigma towards manual labor jobs resulting in growing youth unemployment rate and profound dissatisfaction among people.