dustries. The Third Five-Year Economic Development Plan (1972-76) achieved rapid progress in building an export-oriented structure by promoting heavy and chemical industries. The Fourth Fie-Year Economic Development Plan (1977-81) fostered the development of industries designed to compete effectively in the world’s industrial export markets. The late 1970s, however, witnessed worldwide recession, rising fuel costs, and growing inflation. South Korea’s industrial structure became somewhat imbalanced, and the economy suffered from acute inflation because of an overemphasis on investment in heavy industrial goods. The Fifth Five-Year Economic and Social Development Plan (1982-86) sought to shift the emphasis away from heavy and chemical industries, to technology-intensive industries, such as precision machinery, electronics and information. The Sixth Five-Tear Economic and Social Development Plan (1987-91) to a large extent continued to emphasize the goals of the previous plan. The government intended to accelerate import liberation and remove various types of restrictions and nontariff barriers on imports. The goal of the Seventh Five-Year Economic and Social Development Plan (1992-96), formulated in 1989, was to develop high-technology fields, such as microelectronics, new materials, fine chemicals, bioengineering, optics, and aerospace. Government and industry would work together to build high-technology facilities in seven provincial cities to better balance the geographic distribution of industry throughout South Korea. Social Structure And ValuesThe social values of contemporary South Korea reflect the synthesis and development and diverse influences, both indigenous and foreign. Probably the most important of these is the neoConfucian doctrine of the Chinese philosopher Zhu Xi (1130-1200), first introduced into Korea during the closing years of the Koryo Dynasty (918-1392). The rules of the Choson Dynasty (...
