Impact Of Macroeconomics In South Korea

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What is Macroeconomics? Macroeconomics is the study of the behavior and performance of a nation’s economic system as a whole. The Country that I will be focusing on is South Korea. In this essay, I’ll be discussing South Korea Macroeconomics system and how this country handles its economy compared to the United States. South Korea also known as the Republic of Korea is surrounded by two highly developed countries at the west there’s China and at the east Japan. the total land area of South Korea is about 100,000 square km. The Korean peninsula is about 600 miles long and 120 miles’ width the total population of south Korea is about 51 million. Seoul (the capital) is the and largest city of the country. Till this day South Korea is a Presidential Republic and is considered and one of the most developed countries with a very high standard of living (GDP). Every country has it’s on currency like America is USD Europe Euros, Japan Yen and South Korea Won. The South Korean Won is not regulated by any governing body, but determined by the supply and demand dynamics in the market. Compared to USA currency Won is considerably very low. Number one Korean Won have big denomination.…show more content…
Unfortunately, this is article portrays negative macroeconomics of South Korea. The article discusses the struggle of Korean people. A country with one of the lowest birthrates in the world and on top of that a rapidly aging society. In my belief, the author probably included this article to make sure other countries are aware of situation. The youth unemployment rate is nearly 10 percent. And the country is about 1.19 trillion dollars in debt even if business have taken a portion of it. South Korea is in an economic crisis which their people seem to ignore and tend on looking at the brighter

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