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At the Cairo Conference on November 22, 1943, the US, UK, and China agreed that "in
due course Korea shall become free and independent";[252][253] at a later meeting
in Yalta in February 1945, the Allies agreed to establish a four-power trusteeship over
Korea.[254] On August 14, 1945, Soviet forces entered Korea by amphibious landings,
enabling them to secure control in the north. Japan surrendered to the Allied Forces on
August 15, 1945.
The unconditional surrender of Japan, brought about the liberation of Korea. However
the fundamental shifts in global politics and ideology in post-war World led to the
division of Korea into two occupation zones, effectively starting on September 8, 1945.
The United States administered the southern half of the peninsula and the Soviet
Union took over the area north of the 38th parallel. The Provisional Government was
ignored, mainly due to American belief that it was too aligned with the communists.
[255]
This division was meant to be temporary and was intended to return a unified Korea
back to its people after the United States, United Kingdom, Soviet Union, and Republic
of China could arrange a single government.
Beginning with Syngman Rhee in 1948, a series of autocratic governments took power
in South Korea with American support and influence.
With the coup of Park Chung Hee in 1961, a new economic policy began. In order to
promote economic development, a policy of export-oriented industrialization was
applied. President Park developed the South Korean economy through a series of
highly successful Five-Year Plans. South Korea's economic development was
spearheaded by the chaebol, family conglomerates such as Samsung, Hyundai, SK
Group and LG Corporation. The chaebol received state-backing via tax breaks and
cheap loans, and took advantage of South Korea's inexpensive labor to produce
exportable products.[263] The government made education a very high priority to create a
well-educated populace capable of productively contributing to the economy. Despite
occasional political instability, the Korean economy subsequently saw enormous growth
for nearly forty years, in a period known as the Miracle on the Han River. The
unparalleled economic miracle brought South Korea from one of the poorest states in
the world after the Korean War into a fully developed country within a generation.
Moving on from cheap, lower-value light industry exports, the South Korean economy
eventually moved onto more capital-intensive, higher-value industries, such
as information technology, shipbuilding, auto manufacturing, and petroleum refining.
Today, South Korea is a leading economy and a technological powerhouse, rivaling
even countries such as the United States in information and communications
technology. South Korean pop culture has also boomed abroad in recent years, in a
phenomenon known as the Korean Wave.
On 27 April 2018, both North and South Korea signed the Panmunjom Declaration on
ending the conflict between the two countries to reunify Korea in the future. The
declaration was suspended by North Korea in 2023 and by South Korea in 2024.
See also
[edit]