Government and public organizations

Over the past six decades, the Republic of Korea has achieved remarkable development. Korea's rapid economic and social development has enabled one of the poorest countries in the word to become a member state of the Organisation for Economic Co-operation and Development (OECD). The Korean government has always been at the center of the country's rapid development. North (1990) argued that governments provide critical institutional support that enables economic activity. Governments are the bodies that develop and administer the laws, policies, and regulations for a nation. "The more capable a country's government, the more likely it is to have organizations that compete on their capabilities, innovate, grow, and disperse knowledge and skills" (Pearce et al., 2009, p. 506).