I’m Bob, a high-school student in South Korea, where everything seems so wonderful. I live in Seoul, a most populous city in South Korea, with my family. Since the ecomic system of South Korea is Free Enterprise, my dad didn’t have to be granted permission to open a small retail store. Free Enterprise Economy is an economic system in which every citizen is allowed to open stores, markets for profit without the government’s permission. Businesses are all over the country, so the economy of South Korea is advancing very quickly. The Industrial Revolution in Korea began late in 1970 because of the Korean War. Many important companies to South Korea’s economy were established afterward including Samsung, Hyundai,.. South Korea also rely heavily on trades. Its most important partners are China, Japan, U.S, and the European Union. The products that South Korea exports are electronic goods, ship, boat, vehicles, and machinery. South Korea imports mainly mineral fuels, electric and mechanical equipment, iron and steel. The Gross Domestic Product of South Korea reached a $30,000 per capita with the population of 50 million people in 2012. My parents sent me to work part-time in a commercial industry to help them a bit in finance which is a process of trafficking. The manager give me good salary monthly, and the people in the company are all very nice. They show me how to pack commodities which are goods being transported to markets within or outside the country. The work seems fairly easy for me. The company I’m working for is a formal economy in which the manager pays taxes for the government of South Korea or Seoul. My parents go vote for presidents every 4 years since our country’s government system is Democracy. Democracy is a system of government in which normal citizens have the final say over laws, decisons being made within a country. Everyone in my neighborhood is very excited when it’s time to vote for a president of the country. They... [continues]
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