Running head: VIETNAM IN DEVELOPMENT

South Korea, one of the poorest nations in the 1960s, has become one of the most developed countries in the 21st century. The Miracle by the Han River becomes the model for many countries to follow. Among those countries is Vietnam. Vietnam and South Korea share similarities in history and culture. Yet, Vietnam in spite of having forty years of reunification and independence with a better starting point in terms of economic potentials than South Korea, now lags far behind South Korea. With its attempt to develop, Vietnam looks to Korea development’s model. However, while adopting the model, Vietnam is facing both opportunities and difficulties internally and externally. This will be a comparative paper about the political system, culture, and economy in Korea and Vietnam. The first part of the paper will provide similarities and differences between the two countries in the above regards. The second part will be a discussion about Vietnam’s adoption of the Korean model of development. The third part will present difficulties and opportunities that Vietnam is facing in adopting the model. The last part will contain suggestions for development in Vietnam.