Korea has improved standard of living supported by a rapid economic growth and expansion, and hopes to elevate its status to a developed nation in the near future. Many developing nations, however, have not become part of the developed due to their failure to incessantly provide incentives for education, work, investment, and research/development. The recent growth rate of Korea has been decreased, and Korea must reassess its systems and policies. With the right strategies and the unification with North Korea through transitions to democracy and market economy in the North, it will be able to become one of the leading nations in the international community.