ndustries. That helped the Japanese economy to take off and accelerate the growth of development by zaibatsu expanding and establishing their financial insurance companies and trust banks.
             At the same time Korea was a colony of Japan and in 1907 Japanese abolished the Yi dynasty, which had ruled in Korea since the 1392 and forced Kojong, the last emperor of Korea, to abdicate. In 1910 Korea was formally declared to be a part of Japan. In 1920s and 1930s Japan introduced its zaibatsu model, characteristics of which were changed in favour of the Korean political circumstances. Chaebol - privately owned and run business organisation that is strictly controlled by the government was born and it was argued that Japan introduce this model to plan the economic development of Korea for its own market benefits.
             Korea and Japan were both involved in the II-world war and in 1948 Korea regained its independence form Japan. However, the political influence of US and USSR lead to the Korean war 1950-1953 and that resulted in Korea being divided in South and North Korea and economical progress for South Korea and stagnation in the communist regime for North Korea. On the other hand, Japan was occupied by the US and reorganised. First, a new constitution, which prohibited Japan to start wars, was introduced. Second, US realised the power of Japan's heavy industry and the 15 largest zaibatsu assets were frozen for inventory and reallocation because of being in the war industry and the families had to give up their positions and personal assets. For watchdog purposes created Fair Trade Organisation was there to ensure that zaibatsu models were never repeated again. The occupation ended in 1952 though and for both - Japan and South Korea new life was ahead.
             Japan had lost its invaded territory and could not exercise the military power any more. Fear from future invasions made Japan concentrate on economic progress. The Ministry of Internatio...