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MACROECONOMIC:
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1. Economic and Financial Evironment: ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;Evironment:
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According to BBC News (2012) and Trading Economics (2012), South Korea’s Economy is valued as ‘the high-tech modern world economy’, which is ranked the Fourth-Largest Economy in Asia. For its economic growth, South Korea’s Economy depends heavily on exports, which account for approximately half of country’s GDP. Its main export partners include China, European Union, United States, and Japan. Previously, from 1970 until 2012, Korea GDP Growth Rate averaged 1.8%, and approached the peak of 6.8% in March 1988. However, its rate downed at 3.6% in 2011 (compared with 2010), and continued decreasing 1% in second quarter of 2012. To explain for that decrease, Yang (2012) reports that at 2011, the eurozone fiscal crisis leaded to the decline in foreign sales, and the shrink of economic growth of Korea’s economy on exports. Furthermore, in July 2012, ‘imports fell at the more noticeable rate of 3.1% from the previous quarter’ states Yang (2012), as Korean enterprises reduced ‘import orders’ for capital goods.
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Moreover, the International Monetary Fund (cited in Kim 2012) reported that in 2010 Korea’s Purchasing Power Parity are ranked 27th position compared to the rest of countries with 29,997 US dollars. Additionally, Domestic consumption rose by just 0.3% during the period (BBC News 2012), while Yang emphases that in 2012 Private consumption dropped 0.4 percent. The average monthly consumption expenditure per household of clothing and footwear in the fourth quarter 2011 had 7.1% decreasing from the fourth quarter 2010.These figures display enormous... [continues]
MACROECONOMIC:
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1. Economic and Financial Evironment: ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;Evironment:
-------------------------------------------------
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According to BBC News (2012) and Trading Economics (2012), South Korea’s Economy is valued as ‘the high-tech modern world economy’, which is ranked the Fourth-Largest Economy in Asia. For its economic growth, South Korea’s Economy depends heavily on exports, which account for approximately half of country’s GDP. Its main export partners include China, European Union, United States, and Japan. Previously, from 1970 until 2012, Korea GDP Growth Rate averaged 1.8%, and approached the peak of 6.8% in March 1988. However, its rate downed at 3.6% in 2011 (compared with 2010), and continued decreasing 1% in second quarter of 2012. To explain for that decrease, Yang (2012) reports that at 2011, the eurozone fiscal crisis leaded to the decline in foreign sales, and the shrink of economic growth of Korea’s economy on exports. Furthermore, in July 2012, ‘imports fell at the more noticeable rate of 3.1% from the previous quarter’ states Yang (2012), as Korean enterprises reduced ‘import orders’ for capital goods.
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Moreover, the International Monetary Fund (cited in Kim 2012) reported that in 2010 Korea’s Purchasing Power Parity are ranked 27th position compared to the rest of countries with 29,997 US dollars. Additionally, Domestic consumption rose by just 0.3% during the period (BBC News 2012), while Yang emphases that in 2012 Private consumption dropped 0.4 percent. The average monthly consumption expenditure per household of clothing and footwear in the fourth quarter 2011 had 7.1% decreasing from the fourth quarter 2010.These figures display enormous... [continues]
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(2012, 08). Korea's Economy. StudyMode.com. Retrieved 08, 2012, from http://www.studymode.com/essays/Korea-s-Economy-1068868.html
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"Korea's Economy" StudyMode.com. 08 2012. 08 2012 <http://www.studymode.com/essays/Korea-s-Economy-1068868.html>.
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"Korea's Economy." StudyMode.com. 08, 2012. Accessed 08, 2012. http://www.studymode.com/essays/Korea-s-Economy-1068868.html.
