The functionality of the development perspective of newly industrialized countries in new economic order: South Korea case

The Asian countries including South Korea, have achieved continuous high growth rates and rose upper steps in international comparisons starting from the second half of the 20th century, till the Asian Crisis at 1997. Today, the applicability of the policies which South Korea has performed is a necessary question because of the shrinking of the developing countries? policy spaces. In order to answer this question, the development success of South Korea is introduced as well as foreign direct investments, intellectual property rights and subsidy policies performed between 1960 and 1985 (the research period of the thesis) are analyzed. TRIMs, TRIPs and Agreement on Subsidies and Countervailing Measures which exist in the context of World Trade Organization are considered as constraints which shrink policy space and these agreements are summarized. In the direction of our main question, the applicability of South Korea?s 1960-1985 period policies are questioned within the frame of these agreements. As a result, it can be claimed that foreign direct investment and subsidy policies of South Korea are substantially feasible today. Contrarily, explanatory data about intellectual property rights could not be reached. The legislation of the protection of intellectual property rights at a period while foreign pressure was high caused to comment the breach of intellectual property rights as an important factor of South Korea?s development and it is found out that those policies in the extent of TRIMs are not feasible today.