Korea Mining Policy for 60 Years: Retrospect and Future Prospect

Abstract

For 60 years after the establishment of the Korean Government, Korea has achieved a leap from the least developed country to the top 10 GDP economy in the world through compressed economic development strategies. The mining policies of Korea have changed rapidly in response to drastic economic and industrial transition. Korea mining policy started from the promotion of mining industry to securing of foreign currency and basic raw materials for reconstruction of national economy and industry, and in the 1990s, rationalization of domestic coal mines and overseas resources development policies were driven. In addition, sustainable development policies were adopted to control domestic mining activities and pollutions. After the 2000s, mining cooperation policies in South and North Korea were promoted to help the economic and social unification of Korea peninsula. In this study, various mining policies and their outcomes for 60 years were reviewed and expected future mining policies were presented.