The economic evolution of North and South Korea is a testament to the divergent paths sculpted by their political and social systems. North Korea operates a command economy characterized by central planning and state ownership, with a heavy emphasis on military development often at the expense of civilian needs. This has resulted in a stagnant economy prone to periodic crises and reliant on international aid. Conversely, South Korea boasts a flourishing market economy, marked by rapid industrialization, technological innovation, and global trade. South Korea's economic policies have propelled the nation onto the world stage as a significant economic powerhouse, reflected in its high living standards and economic freedom.
