Jump to ContentJump to Main Navigation
Asia's Next GiantSouth Korea and Late Industrialization$
Users without a subscription are not able to see the full content.

Alice H. Amsden

Print publication date: 1992

Print ISBN-13: 9780195076035

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0195076036.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 08 July 2020

The Triumph of Steel

The Triumph of Steel

(p.291) Chapter Twelve The Triumph of Steel
Asia's Next Giant

Alice H. Amsden (Contributor Webpage)

Oxford University Press

This chapter examines the hypothesis that climbing the ladder of comparative advantage is a matter of creating competitiveness, usually with government assistance, rather than stepping into it. The evidence comes from South Korea's integrated iron‐ and steel‐maker (the Pohang Iron and Steel Co. Ltd., POSCO), which is the centerpiece of basic industry and a public enterprise. The chapter discusses POSCO's founding in 1968; its profitability and subsidization; international competition; foreign technical assistance and the nature of steel‐making technology; POSCO's initial prioritization of increasing volume production, and the later shift to improving product quality and introducing new products; shop‐floor focus; and cross‐subsidization.

Keywords:   foreign technical assistance, government assistance, iron and steel industry, market competition, Pohang Iron and Steel, profitability, South Korea, subsidization

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .