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Planet Money · August 19, 2026 · 40m

Getting entrepreneurial in Korea (Summer School)

Planet Money Summer School explores entrepreneurship in Korea. The first half tells the story of how South Korea's textile industry and a partnership with Bangladesh lifted the country out of post-war poverty and sparked rapid economic growth. The second half crosses the 38th parallel to North Korea, where a woman started her own small business selling goods, part of a growing affluent entrepreneurial class called the Donju. The episode examines how capitalism can emerge even in a heavily restrictive socialist society.

This summary was generated from show notes and public descriptions, not from a full transcript review. Details may contain inaccuracies.

Highlights

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South Korea's textile-led economic transformation
South Korea went from poverty to a global economic powerhouse, partly thanks to a partnership with Bangladesh that kickstarted its textile industry.
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The Donju: North Korea's emerging capitalist class
In North Korea, a class of affluent entrepreneurs called the Donju are running small businesses despite the country's restrictive socialist system.
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Contrasting economic paths: South vs. North Korea
The two Koreas, starting from similar devastation after WWII, took radically different economic paths, with South Korea embracing market-driven growth and North Korea maintaining central planning.

Misc

✧The episode originally aired as two separate stories: 'Richard Nixon, Kimchi and the first clothing factory in Bangladesh' (2013) and 'North Korea's Capitalists' (2017).
✧The Summer School episode also featured quick definitions of volatility, inflation expectations, capital controls, and austerity.
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