In this article, the author, relying on the methodology of modernization theory and the concept of social development of D. North, J. Wallis and B. Weingast, analyzed the experience of "catching up" development of South Korea. Emphasis is placed on the role of the national political leader and the phenomenon of modernizing authoritarianism. The prerequisites for the formation and features of the “Korean model”, as well as the evolution of its institutions, which provided forced economic development and the formation of rents for elites, are studied. It is noted that by promoting modernization, authoritarianism, with the success of development, blurs the foundations of its own existence and creates prerequisites for political liberalization. At the same time, the existing system of relations between the state power and the elites allows avoiding political upheavals during the regime change and continuing the catch-up development and movement towards the open access order.