scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 5,620
BACKGROUND South Korea is believed to be one of the most successful countries in Asia In recent years Koreas economy moved away from the centrally planned government-directed investment model toward a more market-oriented one and as a result their market situation has steadily improved In a press release dated February 4 2005 Deputy Prime Minister and Minister of Finance and Economy Lee Hun-jai said The economy continues to improve especially when compared to data from last year httpenglishmofegokr According to an article in the Digital Chosunilbo English Edition Koreas gross domestic product GDP ranked tenth in the world in 2004 and they have become the tenth largest global economy httpenglishchosuncom Koreas export volume was recorded as ninth in the world exceeding export volumes of the Netherlands Belgium and Hong Kong Mining manufacturing and the construction industries account for a large portion of the economic output for South Korea Exports were up 195 percent in December 2004 and 185 percent in January 2005 This upward movement is expected to reach at least US20 billion a month until at least July 2005 Exports of goods and services represent more than one-third of the countrys GNP Overseas construction contracts particularly in the Middle East awarded to South Korean firms have been an important source of foreign exchange Major exports include machinery textiles transport equipment and clothing and footwear Machinery mineral fuels and manufactured goods are the major imports South Korea has had increasing success in exporting its manufactures to developed countries Its principal trading partners include the United States Japan members of the European Union and Southeast Asian countries South Korea has engaged in trade with North Korea since 1990 Koreas status as an importer ranks them twelfth in the world and their consumer base offers enormous advantages to investors This nations consumer buying power ranks among the highest in all of the Asian markets There is a large demand for specialty retail sales computers and electronics apparel
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA