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The fertilizer supply and demand policy during the first Five-Year Plan(1962～1966)

  • The Review of Korean History
  • 2016, (122), pp.239-292
  • Publisher : The Historical Society Of Korea
  • Research Area : Humanities > History

lee byeongjun 1

1성균관대학교

Accredited

ABSTRACT

This paper analyzed details and impact of the fertilizer supply and demand policy during the first Five-Year Plan(1962～1966) of Park Chung-hee administration in South Korea. Although the secondary sector of the economy had got bigger, the primary sector of the economy had been still the biggest in 1960s. Park Chung-hee administration, therefore, was facing challenges in developing agriculture industry as well as mining and manufacturing industries at the same time. The two of major Basic Objectives in the first Five-Year Plan were to increase agricultural productivity and to raise agricultural income. Fertilizer should have been supplied to farmers at low a price and in due season to achieve the objectives. The cost for fertilizer had over thirty percent on operating cost of farming. If the cost of fertilizer rose, farmers would have felt burden for expense of fertilizer. However, South Korea had imported most of fertilizer that farmers used until mid-1960s and South Korean won-US dollar exchange rate had been rising. Secondly, traders cornered imported fertilizers from foreign countries. As the results of them, farmers were considerably damaged and Park Chung-hee administration was called to make new policies for solving the problem. The fertilizer supply and demand policy of Park Chung-hee administration didn’t contribute to the effect. It’s because the administration had problems with distribution and price policy about fertilizer. They were not able to import and transport fertilizer at the right time. In addition, various policies that set selling price of fertilizer ceased and the price of fertilizer steadily increased. They were related with conflict between Ministry of Agriculture and Rural Affairs and Economic Planning Board, besides the US government requested that South Korean set economic stabilization policy on market. Also the failure of fertilizer supply and demand policy of Park Chung-hee administration appeared on indices. In fact, Grains Price Index wasn’t as high as Fertilizers Price Index and agricultural income from selling their crops didn’t increase. Although Park Chung-hee administration claimed their policies got successful results on market, farmers didn’t have a benefit from the policies when they made a purchase fertilizer.

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