1. 1 Industry Last time we look at how the kind of factories in the UK have changed how the kind of factories in the UK have changedand why they are situated where they are why they are situated where they are This time we are going to see where they have gone and why. This time we are going to see where they have gone and why.

2. 2 Can you think? What we call the places where a lot factories that used to be in Europe and America have gone to? They are all in _ _ _’s? Can you think of the names of places that some of the things you buy have come from?

3. 3 The 4 Tiger economies This is the name given to the industrialized economies of Hong Kong, South Korea, Singapore, and Taiwan. These regions were noted for maintaining exceptionally high growth rates and rapid industrialization between the early 1960s and 1990s. In the 21st century, all four tigers have become high-income economies. (HICs) Which is which? 1 2 3 4

4. 4 The 4 so-called Asian Tigers All four Asian Tigers have a highly educated and skilled workforce and have specialized in areas where they do best. For example, Hong Kong and Singapore became world leading international financial centres, while South Korea and Taiwan became world leaders in information technology.

5. 5 The biggest Asian Tigers South Korea, the largest of the Four Asian Tigers, became the only Tiger to become a High-income OECD member, join the G-20 major economies, and be listed among the Next Eleven countries It is the world's largest shipbuilder, the world's fifth largest carmaker, and creating major global multinationals such as Samsung, LG and Hyundai-Kia.

6. 6 From this we can see South Korea has made it! We are going to look at: 1. How did it go from being a poor country to a rich one so fast Or in other words What were the causes of South Koreas rapid growth And 2. What were the results or consequences Both good and bad And also in terms of the people, the economy and the environment

7. 7 Causes and consequences This is where we are This how we got here This is what happened afterwards CAUSESCONSEQUENCES AdvantagesDisadvantages

8. 8 What were the CAUSES of South Korea's rapid economic growth? Early on, the government realised that primary agricultural goods was not the route to economic growth So the government invested in large companies such as the big steel works called Pohang Iron and Steel corporation They encouraged foreign investment e.g. from the USA They created a market for their own goods by imposing high import taxes on those from other countries. This allowed firms like Hyundai, Samsung and Daewoo to get a foothold in the local market and then to export their quality goods to other countries.

9. 9 What were the CAUSES of South Korea's rapid economic growth? The government instituted a high quality education program that means that their children are among the best in the world at maths and science The government also developed its own research and development of hi-tech goods Large TNCs (e.g. Sony from Japan) were attracted by low wages, low taxes and they also bought know-how to South Korea. A dedicated and substantial workforce was available, willing to work long hours. Firms were also attracted by a large consumer market of SE Asia (e.g. China)

10. 10 What have the CONSEQUENCES of South Korea's rapid economic growth been? ADVANTAGES OF RAPID INDUSTRIAL GROWTH: (i) South Korea became very successful competing with HICs such as the UK (ii) More jobs were available, helping to reduce unemployment and with the rise in income, there was more money available in the country for buying consumer goods and helping to increase standards of living (iii) The increase in purchase of consumer goods (e.g. cars / electrical goods), created more demand for the goods and therefore led to a further increase in the market (iv) More money was also available for leisure time (greater disposable income), resulting in a growth in the countries service sector

11. 11 What have the CONSEQUENCES of South Korea's rapid economic growth been? ADVANTAGES OF RAPID INDUSTRIAL GROWTH: (v) More money was invested in the infrastructure, improving road networks and airports (vi) The success of industrialisation and the development of South Korea's industries, led to South Korean TNCs (e.g. Samsung) investing in places such as the USA (vii) South Korea became the leading producer of shipbuilding (due to low labour costs / modern ship building yards) (viii) The South Korean car industry flourished, with companies such as Hyndai and Kia linking with industries in the USA / Japan and the companies have also invested in LIC countries.

12. 12 What have the CONSEQUENCES of South Korea's rapid economic growth been? DISADVANTAGES OF RAPID INDUSTRIAL GROWTH: SOCIAL PROBLEMS Unequal pay (women and immigrants paid only 50-75% the wages paid to men), sweat shop working conditions for some and an increase in child labour Working very long hours (an average of 52 hours a week) Increased rural-urban migration (the most innovative began moving away from the countryside into the nearby cities for work)

13. 13 What have the CONSEQUENCES of South Korea's rapid economic growth been? DISADVANTAGES OF RAPID INDUSTRIAL GROWTH: ENVIRONMENTAL PROBLEMS noise, air and water pollution increased due to the rapid industrialisation the increase in factories led to smog over cities increased traffic volumes led to taxes on road use in the capital, Seoul

14. 14 What have the CONSEQUENCES of South Korea's rapid economic growth been? DISADVANTAGES OF RAPID INDUSTRIAL GROWTH: ENVIRONMENTAL PROBLEMS in some areas which experienced an increase in population, services such as sewage treatment were not able to cope Not all building and development was to a high standard

15. 15 The Sampoong Department Store collapsed on June 29, 1995 What happened? Originally planned as an office block, part way through construction, the owner decided to make it into a department store. This mean that several of the main structures were removed to allow for escalators and 5 th floor was added, with no additional safety features to take the extra load. It opened in 1990, attracting 40,000 people a day throughout its 5 year life

16. 16 The Sampoong Department Store collapsed on June 29, 1995 – 502 died What happened then? In April 1995 cracks began to appear in the ceiling of the 5 th floor. The owners moved merchandise and stores to the basement but not other action was taken. At the end of June the cracks quickly became much worse and the top floor was shut. The air-conditioning began to make loud noises – so it was shut off so as not to frighten the customers At 5pm, the ceiling of the 4 th floor began to sink so customers were barred from entry to it but no evacuation alarm was sounded until 5.30, 2 minutes before the whole of one wing collapsed like a pack of cards, trapping 1500 and killing 502.

17. 17 What have the CONSEQUENCES of South Korea's rapid economic growth been? DISADVANTAGES OF RAPID INDUSTRIAL GROWTH: ECONOMIC PROBLEMS When there was a downturn in World Trade in 1997, many S Korean banks faced huge debts / bankruptcy. They are again faced with an industrial slowdown, as the US and Europe cut back on imports – this is major danger for any country that is highly dependent on exports.

18. 18 Homework – none this week – still being carried over from last week But on the front of the wiki, it talks about world knowledge In year 7 you learn the main countries in Europe In year 8 you add onto those the main countries in Africa and S America In year 9 you add on the main countries in Asia and Australia For this we start off by using Sheppard Software as it is the only one with a teaching program before you start and tests that get harder, only once you have learnt them So I have attached a record sheet, so you can keep track of which ones you have done and how good you are it!