South Korea was fortunate in that its second dictator, despite being an utterly despicable human shitbag, had a knack for economic development (or maybe he had good economic aides - I don't know). However, its 60s economic system was about as capitalist as 90s China - it was built upon massive government projects to boost export, allocated to large corporations, and the government repressed wages and crushed labor unions so that these corporations could stay competitive.

In fact there were strong parallels to the Soviet economic plans, see:

https://en.wikipedia.org/wiki/Five-Year_Plans_of_South_Korea

vs.

https://en.wikipedia.org/wiki/Five-year_plans_of_the_Soviet_...