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 songs that reiterate the production goals of the firm. Even though the chaebol system helped bring about rapid growth and helped Korea launch itself on the international stage, it caused negative impacts on the Korean economy: The origins of the chaebol system in South Korea come as consequence of the Korean War. The war resulted in much destruction and halted industrial production, which led the government to print money to pay for the war and meet requirements of the United Nations forces for the Korean currency, all of which caused mass inflation. This inflation caused many commodity prices to double