Australia in the Korean War weeks later by the American forces who entered through Incheon. US Army Lieutenant General John R. Hodge formally accepted the surrender of Japanese forces south of the 38th Parallel on 9 September 1945 at the Government House in Seoul. Although both rival factions tried initially to diplomatically reunite the divided nation, it was the Northern faction that eventually decided to try and do so with military force. Troops from the Soviet backed North Korean Army crossed the 38th parallel on 25 June 1950 beginning a civil war. The invasion of South Korea came as a surprise to the United Nations.
Impact of the Korean War on the economy of the United States benefits as the World War II G.I. Bill, including mustering-out pay, financial support for education, home and business loan guarantees, unemployment compensation, and job placement. Impact of the Korean War on the economy of the United States The impact of the Korean War on the Economy of the United States refers to the ways in which the American economy was affected by the Korean experience from 1950 to 1953. While the cost of the Korean War was less significant than that of World War II, it still changed the structure of the American growth as a result of its financing.