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Industries of Korea |
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Korea, a former state that is situated in the Korean Peninsula in East Asia and at present it is divided into North Korea and South Korea.
Regarding the Industries of Korea it could be said that the industries that have affected the economy of this nation in a positive way are the heavy machinery industry, retail industry, chemical industry, construction industry and the consumer industries.
Given below are some facts linked to the electronics industry, construction industry, retail industry and chemical industry, which are:
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Electronics Industry - As far as the electronics industry are concerned, it is the modern technology that predominates the electronics industry and the electronic goods produced by this state are in high demand and also helped this state to earn high revenues. The high sales of the electronic goods have made it compulsory for Korea to give their best and it could also be said that the manufacturers of electronic goods are striving every day to produce high quality products.
Construction Industry - The construction industry of Korea is growing everyday in response to the high level of growth in the economy of the state, urbanization that have increased the demand for housing that would be available at a reasonable price to the common mass and a high standard of living and it has been estimated that there is at present specially in the urban areas a shortage of 2.9 million housing units. To cope with this situation the government has laid down a plan to build 2.25 million housing units. However, the Korean Ministry of Construction has put forth its interest that is to make use of the timber frame construction techniques for the housing units that would hold a large family.
Retail Industry - The retail industry of Korea makes up for about 9.4 percent of the G.D.P and this state includes 69,400 retail stores and the number of employers that are employed by the retailers of this state accounts up to 1.5 million.
Chemical Industry - The chemical industry of Korea includes in itself pharmaceuticals, cosmetics, pesticides, dyestuffs, organic pigments, paints and printing inks, catalysts, adhesives and few other types of chemicals as well. The chemical industry of Korea started to grow in the middle of the 1970’s and this industry has grown to about 10 percent since its onset. In the year 1996 the production reached to about U.S $ 17.4 billion and there was 12.7 percent increase as compared to the previous year and the sale of the paints and the dyestuffs also increased to a great extent.
The heavy machinery industry as well as the consumer industry also contributed in their way to the economy sector of this state and also earned high revenue for Korea. These industries provided employment to a large number of people and the high sale of the products produced by the heavy machinery industry compelled the manufacturing companies to produce high quality products. The consumer industry also did not lack behind and catered to the needs and demands of the common public and also aided the economy of this state to flourish.
Stay connected to the site naukrihub to acquire more knowledge on Industries of Korea.
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