Read the following passage and answer the question.
The Korean peninsula was divided into South Korea (The Republic of Korea) and North Korea (Democratic People’s Republic of Korea) at the end of the Second World War along the 38th Parallel. The Korean War during 1950 - 53 and the dynamics of the Cold War era further intensified the rivalries between the two sides. Both the Koreans finally became members of the UN on 17 September 1991.
Meanwhile, South Korea emerged as a centre of power in Asia. Between the 1960s and the 1980s, it rapidly developed into an economic power, which is termed the “Miracle on the Han River”. Signalling its all-around development, South Korea became a Member of the OECD in 1996. In 2017, its economy is the eleventh largest in the world and its military expenditure is the tenth largest.
According to the Human Development Report 2016, the HDI Rank of South Korea is 18. The major factors responsible for its high human development include “successful land reforms, rural development, extensive human resources development and rapid equitable economic growth.” Other factors are export orientation, strong redistribution policies, public infrastructure development, effective institutions and governance.
South Korean brands such as Samsung, LG and Hyundai have become renowned in India. Numerous agreements between India and South Korea signify their growing commercial and cultural ties. Find out about major agreements signed in the recent past.

The term ‘Mircale on the Han River” signifies which aspect of South Korea's development?
(1) Political
(2) Cultural
(3) Social
(4) Economic

4

The correct answer is option 4.

The term "Miracle on the Han River" signifies the (4) Economic aspect of South Korea's development.

The Korean peninsula was divided into South Korea (The Republic of Korea) and North Korea (Democratic People’s Republic of Korea) at the end of the Second World War along the 38th Parallel. The Korean War during 1950 - 53 and the dynamics of the Cold War era further intensified the rivalries between the two sides. Both the Koreans finally became members of the UN on 17 September 1991.
Meanwhile, South Korea emerged as a centre of power in Asia. Between the 1960s and the 1980s, it rapidly developed into an economic power, which is termed the “Miracle on the Han River”. Signalling its all-around development, South Korea became a Member of the OECD in 1996. In 2017, its economy is the eleventh largest in the world and its military expenditure is the tenth largest.