The success of industrial organizations in this country is extensively attributed to both management styles and work attitudes. The extraordinary growth of the Korean economy for the last 30 years has got the attraction of academics and business people from around the world. The country got a real annual growth rate of about 8 per cent in gross national product during this time. Growth in the corporate sector was prominent and in fact shaped the basis of the economic growth. However, it had many problems despite its quantitative growth (Park 2001). Bearing in mind that the success of HRM development in the South Korea was remarkably high, the only growth factor cannot give explanation all of performance of this country in human resource development. Therefore, it is not just growth but special characteristics of Korean growth that have in fact contributed to the growth of education. (Mabey 1998)
The current economic recession has affected every country of the world. Over the last two years, businesses around the world have been hit by regional economic crisis. In Asian countries, currency crisis and the attendant business slump led to different approaches within the businessmen and financial experts for reducing waste and creating greater efficiencies. The South Korean economy which dodged the recession with a narrow margin has little impact on its business structure. The tight money policies enacted by the government forced Korean firms to reform in order to alter organizational competence and profits.
Although there are several historical factors which boosted South Korean economy after 1950, the period of 1945-1961 has roots of HRM development and economic boom in the country. During this period people of this country took great interest in gaining education which was the result of strong social indicators and economic motivations.
During the period of 1945-1961, education played a great role in changing the lives of Koreans. The