The Republic Of South Korea

The ROC has the 12th largest economy in the world and is the 3rd largest in Asia. After world WII the ROC was one of the poorest countries in Asia and its economy was designed solely to the needs of Japan. The ROC was also dependent on US aid. In 1962 a coup led by General Park Chung-hee started a series of ambitious economic development. This resulted in an economic shift to vastly more foreign trade normalizing their economic relations with Japan.

As well as the fact that their trade deficit is 4,899 USD millions, with a reasonable interest rate and inflation of 1.8% economically they are doing quite well when being compared to the U.S. As a matter of fact their inflation rate is not the same but with-in the same range for most years throughout the last 10 years. (Trading Economics, South Korean Balance of Trade, n.d) (Aneki.com, Ranking and Records, United States vs. Korea South) (Inflation.eu, Worldwide Inflation Data, Inflation South Korea 2012, n.d) (Global Rates Com, Fed Federal Funds Rate, American Central Bank’s Interest rate, n.d) (UN Data. A World of Information, Per Capita GDP at Current Prices USD, South Korea) (Index Mundi, Unemployment Rate South Korea, Historical Data Graphs per year) (U.S. Inflation Calculator, Current U.S. Inflation Rate 2003-2013,) (Inflation.eu, World Wide Inflation Data, Historical Inflation south Koreas – CPI Inflation)

These measures were introduced as there were extremely high taxes in South Korea, which widened disparity made many people suffer. South Korea’s economic success was a result of a competitive education system and a highly skilled and motivated workforce. In the 1970s and 1980s, South Korea became the leading producer of ships, one of the major ship building countries being Hyundai but this industry began to decline in the mid-1980s as a result of the oil glut and world-wide recession. However, South Korea is once again the world’s most dominant ship builder with a 50.6% share in the global shipping market as of 2008. Construction has also been an important in the South Korean export industry since 1960s and remains to be a critical source of foreign currency. By 1981, overseas projects, mostly in the Middle-East accounted for 60% of the work undertaken by South Korean construction companies. South Korea’s Samsung C&T Corporation also built many remarkable buildings such as the Petronas Towers and Burj Khalifa. During the 1960s, South Korea was extremely dependent on the U.S.A to supply its armed forced but after President Nixon’s policy of Vietnamization was removed in the 1970s, South Korea began to manufacture many of its own weapons. In 2010, South Korea’s defence exports were $1.5 billion. South Korea’s remarkable technological advancement and

Following the Korean War and the rebuilding of their societies, both North Korea and South Korea’s economies have depreciated and fluctuated. With their different economic systems, one using the military and the other using trade, they both have received different results.

mmunism. After North Korea’s invasion of South Korea, it became evident that South Korea’s survival required outside intervention. The United States was to take action alone, but reconsidered due to the high risk of a Soviet and Chinese response and then referred the issue to the United Nations where member nations were asked to provide assistance to South Korea. Therefore, the Korean war was an international war in which the United States used the United Nations to Further its anti-communist policies due to the fact that communism was democracy’s greatest enemy.

“Why is North Korea under a dictatorship?” this is known question for surrounding countries as well as countries not even near it. 1946, when the civil war ended, is when the dictatorship. Just like other dictatorships the dictatorship in North Korea is held together by a combination of force and propaganda aimed at brainwashing the public. North Korea’s Communist dictatorship uses both brainwashing and force to control the population of the country.

In 2015, South Korea’s gross domestic product (GDP) was 1.377 trillion dollars (“South Korea GDP, 2017). Comparatively, North Korea’s GDP in the same year was a paltry 16.12 billion dollars (North Korea GDP, 2017). The country is also ruled by an authoritarian dictator whose sole agenda is developing nuclear weapons to inflict mass casualties. On the other hand, South Korea has gone on to make popular consumer products through reputable companies such as Samsung and Hyundai. Aside from protecting a nation from the clutches of dictatorial leaders, the US’s involvement in the Korean War helped to prevent the forceful spread of an imperialistic version of communism that was being perpetrated by North Korea and

North Korea’s economy is very different then the United States’ economy. Even though one dollar in American money doesn’t seem much to us Americans, it is worth nine-hundred dollars in their currency. North Korea’s main sources of income are military products, machine building, electrical power, chemicals, mining, metallurgy, textiles, food processing and tourism. North Korea’s overall condition of the economy is not good.

South Korea and Japan have had a close relationship from ancient history to the present day. Because of this reason, their economic growth and development have similarities and disparate differences. This paper will discuss some of the two countries’ major characteristics including geographic, social, and political characteristics and look at their histories and economies.

South Korea loves sport, sport is not only a popular physical activity but is a significant social practice. Sport operates as an important cultural resource and produces and disseminates nationalism. Indeed, in recent years, south korea has shown competence in hosting, playing, and managing sport. South Korean athletes have created notable results at major international sport events. For example, since 1984, the national Summer Olympic team has unfailingly been ranked in the top 10 nations on the medal table, with the only exception being the 2000 Sydney Olympic Games. The country has also produced a number of major world sporting events, including hosting

At the end of World War II, Korea was a poor former agricultural colony of Japan. But the rapid growth of Korea’s industrial economy has been remarkable. The economy of South Korea is now the third-largest in Asia and the 13th largest in the world by GDP as of 2007. To trace back the economic development of South Korea, the former president Park Chung-Hee played a pivotal role, and was credited for shifting its focus to export-oriented favoring a few large conglomerates. Unlike his predecessors, Park showed a strong commitment to economic development, believing good economic performance as a primary means for enhancing his political legitimacy. Under the President Park Chung-Hee’s era, the government played a dominating role in a

As Senior Commercial Officer, John Fogarasi argues in his video presentation Why Korea? Korea is a country of nearly 50 million people, with the 15th largest economy in the world. Its economy is nearly 1 trillion dollars and is in the same GDP lead as Australia, Mexico, and India. In addition, South Korea’s GDP per capita is over $19,000 leaving them in a remarkable position in the world’s economy. Apart from Japan, Korea has the highest GDP per capita in Asia. Invest Korea’s statistical data shows that Korea recorded a 6.2% economic growth in 2010. “From 1997 to 2010, nominal GDP rose over 500 times from USD 2BN to USD 1,007BN” (Invest Korea). All these statistics show that Korea has had an amazing turnover over the years, from being on the level of some of the poorest nations of Africa in the early 60s with a GDP per capita over 100 dollars to becoming 15th in the world economy. “From 2000 to 2010, over 610,000 companies were newly founded with an average of 56,000 companies set up every year for 11 years” (Invest Korea). They argue that global companies are using the korean market as a “test bed” for their products. What this means

Thesis Statement: Though South Korea may be a small country, the style of cuisine, community culture, and generosity are just a few uniquenesses that outshine its stature.

Korea is ranked the 14th largest economy according to world bank GDP ranking. The scenario was totally different 50 years ago with Korea being poorer than Bolivia. The Korean economy has been able to register annual growth of 7% with banks more efficient than it was during financial crisis of 1990s.

On October 1, 1949 General Mao Zedong stood upon the steps of the Zhang Zhenshi, and announced Zhongguo will become the People’s Republic of China. This act propelled China into a closed market, red country. Later on, China would become a closed market country; this would end in the late 1980’s when China became an open market country. Since then China’s economy has been growing faster than any other economy in the world, and creating relationships with many countries including the United States. As China continues to boom and increase relations with the United States, fear in the U.S. has increased as well.