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South Korea did create some important government enterprises; i.e., Pohang Iron and Steel Company, Korea Telecommunications Authority, Korea Electric Power Corporation, the Office of the Railroad, and Korea Monopoly Corporation (for tobacco and ginseng products). The public sector provided 80-90 percent of the financial services, two thirds of the gas, electricity and water supplies, 30 percent of transportation and communications, 30 percent of mining, and 15 percent of manufacturing.