SOUTH KOREAN STEEL GROWS UP WITH THE ECONOMY.

Lack of raw materials, a small domestic market and little technological experience are among the main obstacles to be overcome. Since 1962, South Korea has had a series of successful five-year plans resulting in real economic growth averaging 10% pa over the whole period. Heavy industry was given top priority in the fourth five-year economic development plan, and the country's crude steel production figures are now 5 mt.