The most extensive government inter

The most extensive government intervention took place in 1970s when it carried out the heavy and chemical industrialization (HCI) drive. The government designated certain industries as key industries. These included iron and steel,non-ferrous metals,shipbuilding,general machinery,chemicals and electronics. Tax and financial resources as well as trade policies were used to promote the development of these industries. Entry barriers were set up,contributing to the rise of the chaebols. During this period, the average size of HCIs grew larger and larger