|No |Content |Page | |1 |1.0 Assignment Question |2 | |2 |1.1 What is Advanced Country |2-3 | |3 |1.2 Background of South Korea |4-5 | |4 |1.3 Contributing Factors That Bring South Korea as Advanced Country |6-9 | |5 |1.3.1 Well-funded Education System |10 | |6 |1.3.2 Good Work Ethic |10-12 | |7 |1.3.3 Good Economy Structure |12 | |8 |1.3.4 Low Population |12 | |9 |2.0 Conclusion |13 | |10 |3.0 References |14-16 |
1.0 Question 18
Analyse what are the contributing factors which make South Korea an advanced country ( Hint : refer to South Korea History )
1.1What is Advanced Country
To start with, I will tell a little about the characteristics of the advanced countries. An advanced country is a sovereign country and its technology infrastructure is far away advanced from any other less advanced countries.
Usually, the criteria to evaluate the economy of a country is by its gross domestic product (GDP), the per capita income, level of industrialization, amount of infrastructure and general standard of living.
The advanced countries have post-industrial economies where the sector of services is providing more income than the industrial sector. It is highly different from developing countries that in process of industrialization, or undeveloped countries where they are pre-industrial and almost do the agriculture.
“As stated in (www.dailytape.com in 1st September 2011) the size of the progress of a country can be seen from the successful development of the country. Income per capita, economic growth, unemployment, and population growth rate is partly an indicator to measure the success of development. Grouping the countries into developed and developing countries are generally based on economic and technological sectors.” The website also state that advanced countries are countries whose lives are patterned industry that has the following characteristics. a. Average income per capita of the population is generally high. b. Education level of high average population.
c. Life expectancy of the population average height.
d. Population growth rate per year is relatively small.
e. The death rate per year is relatively small population.
f. Life-style market economy.
g. His wide and varied field.
h. Economic activity in most industry sectors, as well as export commodities. i. The majority of the population lives in cities.
j. Relatively high level of population health.
“Other than that, according to the International Monetary Fund, advanced economies comprise 65.8% of global nominal GDP and 52.1% of global GDP (PPP) or purchasing power parity in 2010.In 2011, the ten largest advanced economies by either nominal GDP or GDP (PPP) are the United States, Japan, Germany, France, the United Kingdom, Italy, Canada, Spain and South Korea.”
1.2Background of South Korea...