The South Korean economy grew rapidly during the Third Republic and the government continued to economic development priorities set by the Supreme Council. The South Korean government used the influx of foreign aid from Japan and the United States to provide loans to export businesses with no interest, and also provided financial support for industrial projects, such as the construction of the POSCO steel mill. The Third Republic saw the first major construction of infrastructure in southern Korea since the Japanese colonial era, with many new roads, railways and airports being built across the country.