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Poverty reduction through economic growth - VOD (2)

Poverty reduction through economic growth - VOD (2)

Edward Reed, the head of Asia Foundation, talked about the poverty reduction through economic growth. He started with the introducing what Asia Foundation is, and what Asia Foundation does in Asia.

Asia Foundation is non-profit, non-governmental organization. Its biggest mission is to help countries grow and reduce the poverty in Asia. Speaker informed that Korea is the third largest economy in Asia. Since 1960's, Korea experienced tremendous economic growth. After the Korean War, the economy was very bad. However Korea's economy grew exceptionally fast and achieved many goals in 1990's. He compared the economic situations throughout the time since 1950 between Korea and Philippines. In 1960's, both countries's economic level was almost same. Until 1980's, the economic situation between two countries did not show a big difference. However in 1990's, Korea's economy tremendously developed and demonstrated huge difference. There were some important factors in Korea's development: Historical legacy, effective use of foreign aid investment in education and strong special environment.

Asia Foundation focuses on helping North Korea as well. Asian Foundation helped to build library in North Korea and consistently sends books to that library. With the successful experience with South Korea becomes the valuable lessons and guide to help North Korea. Asia Foundation continuously is putting effort to help countries to develop and grow and therefore to reduce the poverty through the economic growth.

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