The 40th International Development Policy Seminar was held on Thursday, October 18th, 2018 in the Global Leaders Room. The lecture entitled “Korea’s Economic Development: Success Factors and Challenges” was presented by Professor Park Myungho, a Professor of Economics at Hankuk University of Foreign Studies. The lecture was attended by the 10th and 11th batch DCPP Students, Professor Jeong Hyeok, and other graduate students. The seminar dealt with some of the success factors of Korea’s economic development, including its export-oriented industrialization strategy, flexibility in policy-making, adoption of a market economy’s principles, and the government’s capacity for efficient implementation, rather than mere policy-making. Furthermore, the Professor concluded that there needs to be a shift from an input-driven growth to one driven by productivity.