For a long time, before the modern time, Korea had been a feudalism society based on the Confucianism. In the Confucianism, the commercial activity was considered as the humble thing and the merchants were treated as the lowest class of the society. As a result, even though overall Korean culture had been well developed, the economy system was very inefficient. At the late of 19th century, Korea woke up from the long dream, and started to build modern economy system. Chosun Dynasty arranged the currency system, and the old fashioned paddlers started to build new organizations.
Economists think that era as the starting line of modern economy.
But unfortunately, the trial of the modern economy system by Chosun Dynasty failed and the dynasty corrupted by the force of Japan. At that time, Japan had already succeeded in modernizing its social system earlier than Korea and started dreaming of the imperialism and expansionism. Korea was the first scape-goat of the ambition. From 1910 to 1945, Korea was colonized by Japan and the economy was distorted for the favor of Japan. For a example, Korea had to export half of rice produced to the Japan.