Contributing Factors That Bring South Korea as Advanced Country

4209 words 17 pages
Table of content

|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
…show more content…
South Korea is a presidential republic consisting of seventeen administrative divisions and is a developed country with a very high standard of living. It is Asia's fourth largest economy and the world's 15th (nominal) or 12th (purchasing power parity) largest economy. The economy is export-driven, with production focusing on electronics, automobiles, ships, machinery, petrochemicals and robotics. South Korea is a member of the United Nations, WTO, and OECD. It is also a founding member of APEC and the East Asia Summit.

“According to Yon Hap in 'South Korean high per capita GDP growth depends on the currency, : analysts, product per capita gross domestic South Korea (GDP) is likely to pass the U.S. $ 30,000 mark around 2017, but whether it is achieving the target will depend on the growth sustainable economic and profit rate local currency.”

“In addition, the International Monetary Fund (IMF) said in October that South Korea's per capita GDP may reach $ 31,825 in 2017 from last year's estimate of $ 23,021.If achieved, as expected; it will take about 10 years of South Korea's GDP per capita surpassed $ 30,000 for the $ 20,000 mark.”

South Korea's GDP per capita surpassed $ 20,000 for the first time in 2007 to reach $ 21.590, but that the global financial crisis, GDP per capita to fall below the level for two consecutive years in 2008 and 2009.Experts said that sustainable economic growth, along with gains in local currency,

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