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KMID : 0857920230260010007
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Yonsei Journal of Medical History
2023 Volume.26 No. 1 p.7 ~ p.45
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Development assistance’ and Loans to Korea in the 1970s
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Lee Hyun-Jin
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Abstract
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This study aims to examine the trends and characteristics involved in the introduction of loans to Korea in the 1970s by examining the background of the loans, and the current status and operational methods of the introduced loans.
In the 1970s, loans were introduced to Korea amid changes in the foreign aid policy and the formation of a pluralistic structure in terms of international responsibility for aid. At this time, loans were positioned as ‘development assistance,’ which included social and economic development, and were discussed within the framework of the economic cooperation of developed countries within the structure of the international division of labor.
The scope and field of loans introduced to Korea in the 1970s were determined during the evaluation and diagnosis of Korea's economic development plan. The major policy projects of the economic development plan became the main beneficiaries of the loans. Reflecting this trend, in the 1970s, social overhead capital and other service sectors accounted for a high proportion of the loans that were introduced.
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KEYWORD
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development assistance, loans, economic development, economic cooperation
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