| Jobs in Asia Pacific Cities |
- Bangalore, India
- Chennai, India
- Hyderabad, India
- Mumbai, India
- New Delhi, India
- Adelaide, Australia
- Auckland, New Zealand
- Bangkok, Thailand
- Beijing, China
- Brisbane, Australia
- Brunei, Brunei
- Chongqing, China
- Colombo, Sri Lanka
- Christchurch, New Zealand
- Ho Chi Minh, Veitnam
- Hong Kong, China
- Jakarta, Indonesia
- Kuala Lumpur, Malaysia
- Macau, China
- Manila, Philippines
- Melbourne, Australia
- Osaka, Japan
- Perth, Australia
- Pnom Penh, Combodia
- Port Morseby, New Guinea
- Seoul, South Korea
- Shanghai, China
- Singapore
- Suva, Fiji
- Sydney, Australia
- Taipei, Taiwan
- Tianjin, China
- Tokyo, Japan
- Wellington, New Zealand
- Yokohama, Japan
- Islamabad, Pakistan
|
|
Economy of South Korea |
|
|
South Korea, which is officially known as the Republic of Korea is an East Asian State and it is situated on the southern half of the Korean peninsula.
At the time when South Korea got established, the economy was dominantly agricultural and the following years the economy got switched over primarily to the consumer products and the light industry and in the 1970’s as well as in the 1980’s the focus of the economy got shifted to the heavy industry. The year 1990 saw maturity in the economy of the nations as the exponental growth slowed down extensively averaging about 6.5 percent.
|
|
After the Korean War got over, Korea emerged from being one of the poorest countries of the world to one of the richest countries and as far as the economy of South Korea is concerned, it is the twelfth largest economy of the world in terms of the nominal GDP and it has the third largest economy of Asia. Korea, from the mid to the late 20th century witnessed a rapid economic growth and it is considered to be one of the fastest economic growth in history and the per capita gross national product has increased from $100 of the year 1963 to $25,000 of 1997 and this growth in the economy at a speedy pace has been adverted to as the “Miracle on the Han River”.
The growth of the South Korean economy took place after the Park Chung Hee government launched its first Five Year Economic Development Plan, which took place in the year 1962.
The Summer Olympics of the year 1988 provided a great boost to the economy of this state. The FIFA World Cup of 2002 also contributed in a large way to the economy sector of this state and it is these two events that led to a change in the whole economic scenario of this state or it could be said that these two events aided the economy of this nation to a great extent.
The service sector also grew and the truth that establishes this fact is that the service sector made up about two-thirds of the GDP and this period also saw an increment in the wages of the workers and this forced the labour intensive industries to move out of South Korea and to set up industries in other places such as Vietnam, Indonesia and China.
In the year 1996, South Korea became a member of the Organisation for Economic Co-operation and Development.
At the onset of the 21st Century the government of Korea made plans with the aim of establishing Korea as one of the leading IT nations of the world within the next five years. The first step that was adopted by the government in this field is that it backed up the IT industry that was led by the LG Electronics and Samsung Electronics with the aid of public fund. The WiBro (wireless broadband internet) and the Digital Multimedia Broadcasting as well as the capturing of the market share in the prime sectors with the help of the IT services and IT products have also helped in the economic growth of this nation and for this reason this state has also been called as one of the Next Eleven economies. Regarding the current position it could be said that in the few years to come its economy would match up to the economy of United Kingdom.
The government of South Korea at present is investing in the robotics industry and it has a dream that is to be the World’s Number 1 Robotics Nation by the year 2005 and by the year 2020 it has plans to adorn every house with a robot. The South Korean government also has plans to develop other sectors of economy such as aerospace, financial, biotechnology and entertainment.
Check the site naukrihub for more information on Economy of South Korea.
|
|
|
|
| Jobs Abroad |
|
|
 |
|
|
|
|
| Career Institutes |
| Want to know about professional career institutes.
|
|
 |
|
|
| Career Development |
Are you in need of a
councillor to help you in
choosing the right career?
|
|
|
|
|
|
|
|
|
