Did S. Korea choose petroleum refining as part of WW2 reconstruction?
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Accepted answer
Humorously enough (considering the recent U.S. election), Korea is probably one of the best examples of economic growth via rejecting globalism and classical economics theory (see anything by Ha-Joon Chang). However, President Park, in the 1970s embarked on one of the possibly less successful growth approaches used by the Korean government (clearly in general his strong government-industry coupling and import controls were wildly successful, as the country rapidly moved from poverty-stricken to wealthy), which was the Heavy and Chemical Industrialization Program of 1973. The idea was to support a slew of "heavy industries" (rather loosely defined) to help the overall competitiveness of Korean industry. A good paper on this (a tad on the critical side) is Korea's experience with industrial adjustment in the 1970's. Petroleum refineries were a component of this program.
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