History of science and technology in Korea such as the division of Korea and the Korean War that occurred right after its independence. It wasn't until the 1960s under the dictatorship of Park Chung-hee where South Korea's economy rapidly grew from industrialisation and the Chaebol corporations such as Samsung and LG. As of 2008 South Korea ranked 5th highest in terms of R&D. Park Kye-jung, CEO of Ace Electronics, won the Gold and Silver prizes for his invention of motor and motor-equipped gear at the 23rd Invention and New Product Exposition, he took the gold medal with his invention of a special device that converts vibrations from
Chaebol to the full scope of the crisis and thus helped keep the Korean economy afloat. President Roh Moo Hyun pushed for even more extensive reform. His administration passed stringent regulations on fraudulent accounting, stock manipulation, and irregular wealth succession. The chaebol were forced to improve objectivity on their board of directors. Rather than having the decision-makers be insiders, affiliates, or family members, the chaebol were expected to hold representation who reflected the interests of investors, especially minority shareholders who gained a significant number of rights. As a result, it became easier for the chaebol to raise capital through equity rather