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Emirates, beating out Areva of France and General Electric of the US. In August major orders were announced by Daewoo Shipbuilding and Marine Engineering for 2.5 billion dollar offshore plant facilities to West Africa. The message is clear: South Korea is hungry to gain entry into new markets. Recent history proves that the country is also able to realise its own ambitious plans. kept foreign competitors at bay. Through this strategy, South Korea built the backbone of its economy: conglomerates or chaebols that still control the country's economic life. The largest of these ­ Samsung, Hyundai/Kia and LG ­ are well-known around the world. A ShArEd fUTUrE The difference be tween today's South Korea and the insulated communism of the North is startling. Among the reasons to South Korea's strength has been its ability create a prosperous marriage between politics, corporations and culture; it's not purely a market economy. The most powerful secret to South Korea's success may be its continuing attachment to the ancient Confucian culture. School children BELOW It's a digital world inside the Seoul Metro. rIGhT Multicoloured ribbons in the demilitarised Zone separating South and North Korea send a message of peace and hope for the future. ShAPING AN EcONOMIc WONdEr The model for today's South Korea was born in the early 1960s, when military dictatorship ruled the country and the president was General Park Chung-hee. He hand-picked both the industries he wanted to develop and the families and companies he wanted to carry out his politics. These companies received exclusive funding from the state, while high tariffs South Korea is hungry to enter new markets. 56 BLUE WINGS SEPTEMBER 2010

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