Korean envoy shares development model

Peter Matambanadzo Senior Reporter
Zimbabwe should come up with a favourable macro-economic policy environment, clear and transparent property rights and proper pricing policies for the country to develop its industry, South Korean ambassador to Zimbabwe Mr Kwang-Chul Lew has said.
He was speaking at a University of Zimbabwe public lecture last week on the development model adopted by South Korea, which transformed its economy to become one of the four leading economies in Asia after China, Japan and India.

“The transformation of Korea’s rural areas has been based on favourable macro-economic policy environment, clear and transparent property rights, technology, market access and proper pricing policy,” said Mr Kwang-Chul.

“So, I can say proper policy is a necessity for proper development. If you want proper development you need proper policy.”
Implementation was also crucial for the development of any nation.

“Policy is one thing, but implementation is another thing,” he said.
“Implementation of policies is most important. Whatever beautiful policy you may have, unless you execute 100 percent, nothing will come out.

“That is what Korea did. If you make a plan and you implement it hundred percent you will be satisfied with the results.”
Mr Kwang-Chul said Government should come up with flexible policies that ensure farmers were incentivised to encourage production.
In the 1960s when South Korea started its economic development process, the primary concern was ensuring food sufficiency.

Furthermore, the Asian country introduced a spiritual movement aimed at changing attitudes of the people and this significantly helped in motivating and changing the mindset of rural people.

“The movement contributed to the rapid transformation of farming from traditional to commercial farming. It has contributed to raising farmers’ confidence for better living and ultimate contribution to poverty eradication,” said Mr Kwang-Chul.
He urged Zimbabwe to take full advantage of its vast arable land and natural resources to develop.

Mr Kwang-Chul donated computers and books to UZ.
Vice Chancellor Professor Levi Nyagura said the lecture would provide practical lessons for Zimbabwe’s commerce and business sector.
“We hope to learn development strategies that have propelled your country to be an economic giant in Asia,” he said.

In the 1950s, South Korea was one of the poorest countries in the world.