Correct me if I'm wrong, but the reason South Korea (like China) progressed so rapidly is because it was a fairly authoritarian state until recently. They benefited from that and US investment, and then liberalized after they were a small powerhouse.

Some argue that China will do the same thing, but it's just as likely the elites continue to hoard most of the benefits of this development and it stays closed off. Trading personal freedoms for economic development is temping and very scary because it's tempting.