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March 31, 2021

50 Fascinating Color Photographs Capture Everyday Life in South Korea in the 1950s

In the 1950s South Korea had an underdeveloped, agrarian economy that depended heavily on foreign aid. The military leadership that emerged in the early 1960s and led the country for a quarter century may have been autocratic and, at times, repressive, but its pragmatic and flexible commitment to economic development resulted in what became known as the “miracle on the Han River.”

During the next three decades, the South Korean economy grew at an average annual rate of nearly 9 percent, and per capita income increased more than a hundredfold. South Korea was transformed into an industrial powerhouse with a highly skilled labour force.

In the late 20th century, however, economic growth slowed, and in 1997 South Korea was forced to accept a $57 billion bailout from the International Monetary Fund (IMF)—then the largest such rescue in IMF history. The country also wrestled with reforming the chaebŏl and liberalizing its economy. Nevertheless, its economy enjoyed a recovery in subsequent years, and the country entered the 21st century on a relatively firm economic footing.

A gallery of 50 fascinating vintage photographs below shows what life looked like in South Korea in the 1950s.






















































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