Two significant news on South Korea caught my attention. First, it is the final medal tally for the just completed Asian Games. South Korea came in at number two – behind host nation China but ahead of Japan. SK, with a population of just 48.6 million, managed to gather a total of 76 gold medals. Japan, on the other hand, with a much bigger population of 127 million managed to collect only 48. How did the South Koreans do it?
The second is the results of the Car of the Year 2010 awards conducted by New Straits Times & Maybank. Of the 18 awards available, South Korean manufacturers picked up 5. They even beat Japan who managed to score only in 3 categories. Again, how did they do it?
South Korea is one of the most ethnically and linguistically homogenous society in the world. Technically, they are still at war with their brother state in the north. This makes them very united and competitive. Also, the humiliation suffered by the country in 1997 when it was bailed out by the IMF has made them resolved to better themselves. That is the new spirit of the South Koreans.
One other factor is the country’s emphasis on education and the development of its human capital. Its local universities produced a total of 10,322 Phd holders in 2009. In the same year, 82 % of its high school graduates are enrolled in tertiary educational institutions. A total of 19,847 doctoral positions were offered by their universities. All this has not taken into account the Phd degrees obtained from foreign universities.
They have become very strong in research and development. They are also very innovative. They have become world leaders for a host of electronic products. Watch them. They will become more prominent in the future.
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