Why is south Korea rich and north Korea is not?

Answer 1

Why North Korea has not developed an economy comparable to South Korea is a complex issue. One reason is that North Korea has faced repeated sanctions from the UN.

North Korea and South Korea had comparable economies until the mid-1970s. South Korea chose to embrace a Westernized Capitalist economy and was able to modernize alongside Japan and Taiwan in developing a first-world modern economy. Conversely, North Korea continued to become more autarkic and slide into increasing forms of state-planned economy. Without innovation and a strong private sector, North Korea's economy continues to shrivel whereas South Korea's economy continues to grow and develop.

Answer 2

Great Question, After the Korean War and North and South Korea began to rebuild. North Korea achieved this faster with Soviet backing than the South did with American backing. The North formed a great health care system, trade with many socialist countries, developed its infrastructure, and successfully rebuilt its economy. By the 1960s North Korea had a higher standard of living, larger GDP per capta, and higher life expectancy than the South. This trend continued until the 1980's when South Korea's growth exceeded the North. North Korea continued to grow however until the 1990's.

In 1994, the president died leading to a power struggle among the government, unprecedented natural disasters occurred, the collapse of the USSR and the entire socialist market, and other factors led to the entire collapse of the Norths economy and a famine. Now North Korea is slowly recovering but is less prosperous than South Korea.

Answer 3

South Korea is capitalist, north is communist.