Economy of Korea It’s economic relations with World Countries

Economy of Korea

It’s economic relations with World Countries

Made by

Muhammadkosimova Malika

MO89

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The economy development of South Korea

Economic relations with Japan/Mongolia/China/US

Conclusion

Introduction

INTRODUCTION

• Korea is one of the few countries which has successfully transformed from a low-income to a high-income economy and also to a global leader in innovation and technology.
• The Korean office is working with Korean partner institutions to help developing countries learn from Korea’s experience.
• South Korea has a mixed profitable system which includes a variety of private freedom, combined with centralized profitable planning and government regulation.

The economy development of South Korea

South Korea's profitable development since the 1960s has been phenomenal. Devastated by the Korean War (1950- 1953), South Korea was one of the poorest countries in the world in the 1950s. Its Gross Domestic Product was a bare $1.5 billion and per capita GDP was only$ 70 in 1954. Starting in 1962 with a five-time profitable plan, still, South Korea initiated industrialization to develop frugality.

ABOUT SOUTH KOREAN

• South Korea is a member of the Asia- Pacific Economic Cooperation and Asia- Pacific Trade Agreement.
• South Korea’s profitable freedom score is 73.7, making its frugality the 15th freest in the 2023 indicator.
• South Korea is ranked 5th out of 39 countries in the Asia – Pacific region, and its overall score is above the world and indigenous pars.

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• Through the perpetration of several further five-time profitable plans, South Korea now has the 13th largest frugality in the world. Its public GDP in 2007 was $949.7 billion and GDP per capita reached $,624.

• By nominal GDP, it has the 4th largest frugality in Asia and the 13th largest in the world

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• South Korea is thus one of the world's largest husbandry and is presently at rank 10.

• South Korea is a high-technology, industrialized, $1.6 trillion frugality led by similar sectors such as electronics, telecommunications, machine products, chemicals, shipbuilding, and sword.