Korean War two years of fighting became a war of attrition, with the front line close to the 38th parallel. The war in the air, however, was never a stalemate. North Korea was subject to a massive bombing campaign. Jet fighters confronted each other in air-to-air combat for the first time in history, and Soviet pilots covertly flew in defense of their communist allies. The fighting ended on 27 July 1953, when an armistice was signed. The agreement created the Korean Demilitarized Zone to separate North and South Korea, and allowed the return of prisoners. However, no peace treaty was ever signed,
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.