Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Regional integration in asia pacific
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Regional integration in asia pacific
Introduction:
South Korea is a country that has developed into one of Asia's most wealthy countries since partition in 1948. The Republic of Korea was proclaimed in August 1948 and received UN-backed support from the US after it was invaded by the North in 1950.The Korean War ended in 1953 without a peace agreement, leaving South Korea technically at war for more than fifty years.
Output& Income:
Gross Domestic Product& National Income:
GDP in South Korea extended 0.90% in the fourth quarter of 2013 over the previous quarter. Gross National Product in South Korea decreased to 272550.50 KRW Billion in the third quarter of 2013 from 274333.70 KRW Billion in the second quarter of 2013.
World Ranking:
The highest FIFA ranking was 17 in December 1998. The lowest FIFA Ranking was 62 in February 1996. The best Mover is 18 in July 2002. The worst mover was 27 in July 2006.
Per Capita GDP:
It is $33,200(US dollars) in 2013 and the country comparison to the world is 42. It was $32,400 in 2012 and $31,900 in 2011. The PPP to the world is not quite high.
Per Capita Income:
Gross national income (GNI) per capital is $30,972 in 2012 and 29,864 in 2011. Growth slowed in late 2011, reflecting the deterioration in the world economy, but is projected at around 3½ per cent in 2012.As people can see from the statistics, this is a quite high number and competitive in the world.
Country Classification:
Newly Industrialized Economy:
The terms “newly industrializing economies” (NIEs) first appeared in the late 1970s to consult a small group of developing countries that had been successful not only in industrializing speedily but also in expanding their exports of artificial products. The second group of East Asian countries inc...
... middle of paper ...
...oing-business-southkorea.html?highlight=YTozOntpOjA7czo1OiJzb3V0aCI7aToxO3M6NToia29yZWEiO2k6MjtzOjExOiJzb3V0aCBrb3JlYSI7fQ==
4. http://www.oecd-ilibrary.org/economics/country-statistical-profile-korea_20752288-table-kor
5. http://www.oecd.org/korea/economicsurveyofkorea2012.htm
6. http://www.tradingeconomics.com/south-korea/gdp-growth
7. http://www.tradingeconomics.com/south-korea/gross-national-product
8. http://www.fifa.com/associations/association=kor/ranking/gender=m/
9. http://en.wikipedia.org/wiki/Music_of_Korea
10. http://www.answers.com/topic/newly-industrializing-economies
11. https://www.cia.gov/library/publications/the-world-factbook/fields/2048.html
12. http://www.worldbank.org/en/news/press-release/2013/10/10/world-bank-group-open-new-offices-korea
13. https://www.kdevelopedia.org/mnt/idas/asset/2013/03/28/DOC/PDF/04201303280125567070791.pdf
...conomically beneficial trade and technology development. In this regard the Epilogue uses sound logic to plausibly answer the wealth question. On the other hand, Mr. Diamond uses the same "national competition" thesis to purport that Asia's large, centralized governments were conspicuously growth-inhibitive. This argument would not seem to pass muster given what we have learned about the role of governments. Professor Wright's slides state that "Centralization may limit predation and even allow for growth" as "centralized predation = incentives to maximize the haul " This clearly refutes Mr. Diamond's argument that centralized, monopolistic Asian governments impaired societal advances. Thus, Guns, Germs, and Steel can scantly explain why China and the Middle East remain emerging markets while Western and Northern Europe enjoy significantly larger national wealth.
"Gross Domestic Product." International Encyclopedia of the Social Sciences. 2008. Retrieved January 09, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1G2-3045300969.html
Japan was imperializing late nineteenth century to early twentieth century. Korea was a Japanese colony. After World War II, the Japanese had to get rid of the colony. North Korea became a Communist. South Korea wants to be democratic.
alot lower than in the U.s., and also unlike them we have free health care and
Korea had been united as one country for many years. Japan took control of Korea and made it part of its empire. After World War II, Japan was defeated and its empire fell. Korea was left without a leader or a system of government. This provoked the United States troops to occupy the southern half and Soviet troops to occupy the northern half. The United States and its allies favored democratic government, while the Soviet Union and China favored a communist system of government.
Australia was ranked eleventh in the world in 2002 with an average of $29,260 per person per year.(globalis)
“GDP measures the monetary value of final goods and services—that is, those that are bought by the final user- produced in a country in a given period of time (a quarter or a year). It counts all of the output generated within the borders of a country.” (International Monetary Fund. n.d.)
South Korea is a country that has rapidly developed. But the country also experienced military dictatorship in the 1980s
Korea gained independence from Japanese colonial rule in August of 1945 and also the division of Korea into the republic south and communist north in the 38th parallel. South Korea then was under the United States occupation from l945-48. Before the United States occupation South Korea had already organized a central People’s committees and established the Korean People of Republic (Memorial Foundation). Nevertheless, United States did not recognize any of the provisional or republic government. The United States refused to do so until there had been an agreement among the western allies. In 1954, there was a Mutual Security Agreement signed between the United States and South Korea, which states that they agreed to defend each other in the event of outside aggression (Memorial Foundation). South Korea has been under military authoritarian regime from 1961-1979 under President Park Chung Hee and from 1980-1992 under President Chun Doo Hwan. The Kwangju uprising occurred in May of 1980 after the collapse of the first milit...
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.
experiencing growth rates in GDP per head at around 6% to 7% compared to the 2%
The objective of this paper is to examine how the development of a textile industry contributes to economic growth in the global economy. Because textile manufacturing is a labor-intensive industry, developing countries are able to utilize their labor surplus to enter the market and begin the process of building an industrial economy. Emerging economies then look outward to develop an export strategy based on their comparative advantage in labor costs.
Due to the harsh differences between the peoples of Korea, and especially due to the onset of Communism, the Korean War erupted and the nation split in half, with the Communist-supported Democratic People’s Republic in the north and those who favored democracy in the Korean Republic of the south (Microsoft Encarta Encyclopedia 2000). The two separate countries of North Korea and South Korea have gone their opposite ways, and each has experienced different fortunes in the past half-century. The South Koreans managed to recover from the turmoil of the 1950s and 1960s to become an economic power and a democracy supporter. On the other hand, North Korea can be viewed as a retro country, based first on a Communist ideology, laid down by leader Kim Il Sung and inherited by his son, the current dictator Kim Jong Il, then evolving into a totalitarian state (Pacific Rim: East Asia at the Dawn of a New Century). Today, North Korea holds the distinction of being one of the very few remaining countries to be truly cut off from the rest of the world.
Theoretical model of modern economic growth shows that long-term economic growth and raise the level of per capita income depends on technological progress. This is because of without technological progress and with the increase of capital per capita, marginal returns of capital would diminish and output per capita growth would eventually stagnate (Solow, 1956; Swan, 1956). Studies have shown that “experience, skills and knowledge in the long-term economic growth is playing an increasingly important role” (World Bank, 1999). Despite how technological progress work on economic growth, and how there are different views on the role of in the end, but I am afraid no one would deny that technical progress in the important role of economic development. In this sense, for a country to achieve long-term economic growth, we must continue to promote technological progress. However, economic growth theory is analyzed in general, and usually under the assumption that in the closed economy, and technological progress in a country not normally have taken place in various departments at the same time, and now the economy are often increasingly open economy. In this way, the technological progress in different economic impact on a country may be quite different. In addition, we assume that technological progress is Hicks neutral, is to an industry in itself, but technological progress also reflects the establishment of new industries and development. The new industries and technology-intensive industries generally older than the high, the use of less labor. Even the old industries, the general trend of technological progress is labor-saving.
The Gross Domestic Product (GDP) is the total market value of in a country’s output. The GDP is the total market value of all final goods and services produced by factors in within given period of time that located in the country doesn’t matter they are citizens or foreign-owned companies. Hence, the GDP is the best way to measure the country economy.