In the last four decades, the Republic of South Korea has accomplished a high level of economic growth and global integration to develop into a high tech industrialized market. This economic growth has permitted the nation’s rise from the results of the Korean War and into the ranks of the Organization for Cooperation and Development (OECD). In today’s world South Korea is consider the world’s 12th largest economy and the United States 7th largest trading partner. In the next few paragraphs, I’ll discuss several of South Korea’s capabilities, opportunities, requirements and vulnerabilities that allowed for the countries rapid economic growth.
The principle that spurred the rapid industrialization growth and development was the emphasis in the industrial sector and the implementation of an external strategy in the early 1960’s. This strategy came in practical during this particular instance because of South Korea’s minimal natural resources, lack of the public saving rates and small domestic market. This export oriented approach propelled the nation’s economic growth by providing a labor intensive manufactured exports, in which the country was able to develop a competitive advantage throughout the Asian continent. In the late 1980’s manufacturing commerce accounted for almost 30 percent of the nation’s gross domestic product (GDP) and 25 percent of the employment force. The foreign monetary assistance contributed to the low saving rates by enabling South Korea to achieve a speedy increase in exports, ensuing in the increase of national revenue. The introduction of newer technology into out of date or newer facilities increased the production of goods, especially the ones sold in foreign markets which resulted into further indus...
... middle of paper ...
... international investors as well as development of the country’s infrastructure.
Final Analysis:
The economy in South Korea continues to grow in a steady pace with effective trades with the International community. Their reforming procedures enforce by their President has allowed the country to recover from an earlier slow economy growth and difficult crisis. The Peninsula keeps close partnership with the top five economic leading (U.S., China, Japan, Singapore) countries and successfully keeping the effective trades for their future economic infrastructure. Technology will remain the number one focus for exporting, trading with other countries as the demand increases throughout the world. The future looks challenging and promising as they adapt new economic strategies that will keep South Korea as one of the leading trading / exporting countries in the world.
Today, China and North Korea are two extremely powerful communist countries. However, communism was not always present. In fact, communism was a new political theory proposed and published on February 21st of 1848 by Karl Marx in his famous “Communist Manifesto.” In 1949, approximately one hundred years after the Communist Manifesto was written, Mao Zedong came into power and henceforth, adopted a form of communism. It was after World War II and the Chinese Civil War, that the Chinese Communists were able to overthrow Chiang Kai Shek and the Chinese Nationalist Party; hence, this new government swore to form a “brand new” China, which modeled and resembled closely to Marxism-Leninism. North Korea and China’s geography, mutual history, and ideology proved to make them similar in many aspects in terms of reforms and revolutions; however, it was not until death of Mao Zedong and the rise of Deng Xiao Ping in the mid-1970s that drew the distinct line between North Korea and China communism.
Leadership at times can be a complex topic to delve into and may appear to be a simple and graspable concept for a certain few. Leadership skills are not simply acquired through position, seniority, pay scale, or the amount of titles an individual holds but is a characteristic acquired or is an innate trait for the fortunate few who possess it. Leadership can be misconstrued with management; a manager “manages” the daily operations of a company’s work while a leader envisions, influences, and empowers the individuals around them.
The apartment and the feng shui that give importance to nature as well as design the country to suit with the urbanization of the world. I always thought that Korea could rise because of the superstar in K-pop industries and TV series which also linked to the tourism business. I never know that the Korean already have plan for their success. They welcome the industries and pave their children toward high education. This make it quite obvious why Thais are not able to grow like Korea even though we did not has to suffer much from the world war. Thais did not take plan into action and our governing system is erratic; we lack a person who guide us to the development of the world. Thais also have a problem with education system. Some students graduate without knowing much about their field of study or being ready to work from the theory they have learned. On the other hand, in Korea’s major city seems like a western city but maybe that is what happened most developed country are likely to get the influence of western
This response will focus on the key issue of fragmentation. In his book Korea’s Twentieth-Century Odyssey, Michael E. Robinson wrote “Multiple interest groups resided within the bureaucracy and even divided the royal house” (p. 16). Arguably, Korea’s sovereignty was lost in large part, due to the lack of unity among different groups and faction. It was clear from the readings that some Korean individuals and groups prioritized their self-interests above their own country’s benefit. Nowhere was this most evident then the issue of national security.
Soh, C. S. (2001). South Korea. In C. R. Ember & M. Ember (Eds.), Countries and Their Cultures (
This book is pieced together in two different efforts, one which is to understand the latter history of the post-1945 era with its political liberalization and rapid industrialization period, while at the same time centering its entire text on the question of Korean nationalism and the struggle against the countless foreign invasions Korea had to face. The purpose of this book was composed to provide detailed treatment of how modern Korea has developed with the converged efforts of top eastern and western scholars who wanted to construct a fair overview of Korea's complicated history. Also, the writers wanted to create an updated version of Korea's history by covering the contemporary arena up to the 1990's. The ...
South Korea has a strong $1-trillion economy; it is the third largest market in Asia, behind Japan and China. It also has the 13th largest economy in the world. It is expected that the economy’s current upward trajectory will continue for some time to come. This makes South Korea an attractive market for foreign investment, especially as the world economy, as a whole, continues to improve.
South Korea is a country that has rapidly developed. But the country also experienced military dictatorship in the 1980s
In this essay we look in-depth on how government strategies and economic policy play a crucial role in the success of High Performance Asian Economies (HPAEs) during 1960 to 1990 (World Bank 1993).There are eight countries within HPAEs: South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, Indonesia and Japan. Its economic development has significantly rise that it was name ‘East Asia Miracle’ (World Bank, 1993).
The Korean wave refers to the phenomenon of Korean history, Korean entertainment, popular culture. Korean wave also known as “Hallyu” in Korean. This term is now widely used to refer to the popularity of Korean across asia and other parts of the world. Hallyu was first founded by Chinese press in the late 1990s. It was used to describe the growing popularity of Korean pop culture in China. Korean pop culture usually made up by several parts like, Korean pop music, Korean drama and Korean movie rolling over the world.
South Korea, once a broken country filled with broken families, has transformed itself into a fine example of perseverance in a tough situation. South Korea and its neighbor to the north have developed past where they were before the Korean War, but in different ways. The two countries, while certainly dependent on each other, are vastly different. Their conflicting styles of government and their differing cultures speak for themselves in this case. South Korea has, over the years, changed dramatically from the crippled country of the Korean War into a blossoming beacon of Asian cultural and economic changes. The combination of its recent economic importance, its heavy cultural influence, and its constant danger of participating in a war makes South Korea one of the most influential countries in the world.
Already South Korea is going for its third straight year it when up to 9.2 percent in 2015. The unemployment in South Korea is caused by the great divide in their labor market. It’s very hard to hold a permanent job. This is why employees are categorized in two categories: the ones who have permanent jobs and then there’s the temporary workers. As a result, towards young people it’s hard for them to find a stable career or just a secure permanent job.
Singapore gained its independence in 1965.It has been growing gradually and increasingly in the economy. I is now included among the world’s most competitive economies. This was made possible by being an public business globally, with a good business environment and a substantial political market, making it a popular country to invest in globally.
This country is of particular interest as it is one of the four Asian Tiger economies, whose rapid industrialisation and growth between the early 1960’s and 1990’s caused it to emerge as one of the most dynamic and fast-changing countries in Asia and the world. Much like Japan, its economic development was marked by heavy investments in foreign technology and imitation through reverse-engineering. By limiting FDI, South Korea maintained control over its industrial base and encouraged investments in R&D.
The Lao People’s Democratic Republic, or Laos, is a politically stable and peaceful landlocked country in Southeast Asia, centrally located in the Mekong sub-region. The country occupies about 236,800 square kilometers and almost half the length of the Mekong River that flows through it. It is bordered by China to the north, Myanmar and Thailand to the west, Cambodia to the south and Vietnam to the east. The country has a tropical monsoon climate with a rainy season from May to October. Temperatures range from highs of 40°C along the Mekong River in March and April to lows of 5°C in the high mountains in January. (The World Fact Book) Most of Laos is covered by mountains and dense forests and its population density is among the lowest in Asia. Laos has a population of about 5.6 million, comprising 47 ethnic groups.