Getting entrepreneurial in Korea (Summer School)

About this episode

This week’s stop on our world tour - Korea. A country divided into two very different power structures since the end of WWII. Today South Korea is the maker of some of the world’s favorite exports – from Samsung TV’s to BTS. But 75 years ago it was a much different story. How the textile industry and a partnership with Bangladesh lifted the country out of poverty and paved the way for rapid economic growth. Then later in this episode – how entrepreneurial endeavors look different on the other side of the 38th parallel. We’ll follow a woman who started her own small business selling goods in North Korea. How are the Donju, members of the affluent entrepreneurial class, faring and can capitalism exist in a highly restrictive socialist society? Featured Episodes: • Richard Nixon, Kimchi and the first clothing factory in Bangladesh (2013) • North Korea's Capitalists (2017) Featured Terms:  • Volatility • Inflation expectations • Capital controls • Austerity Support: • NPR+ (sponsor-free listening & bonus episodes)  And please click “follow” in your podcast app so you don’t miss an episode. Read:  • Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life