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MULTIPLE PARTIES SYSTEM
ELECTION OF PRESIDENT
ROLE OF PRESIDENT
NATIONAL ASSEMBLY
ROLE OF PRIME MINISTER
17 DIFFERENT MINISTRIES
IT COMES UNDER MINISTRY OF INFORMATION
AND COMMUNICATION
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SOUTH KOREA ADAPTED AN EXPORT ORENTED
ECONOMIC STRATEGY.
WORLD BANK DESCRIBES KOREA AS ONE OF THE
FASTEST GROWING MAJOR ECONOMIES OF NEXT
GENERATION ALONG WITH BRIC AND INDONESIA.
SOUTH KOREA HAS A MARKET ECONOMY WHICH
RANKS 15THIN WORLD BY NOMINAL GDP AND
12THBY PPP.
PART OF G20
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GDP - NOMINAL USD 1.151 TRILLION(2012)
PPPUSD 1.554 TRILLION (2012)
GDP GROWTH - 2.1%(2012)
GDP PER CAPITAUSD 32,000
GDP BY SECTOR
I. AGRICULTURE -2.6%
II. INDUSTRY39.2%
III. SERVICES58.2% (2010) INFLATION4.2%
POPULATION BELOW POVERTY LINE15%
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LABOUR FORCE25.18 MILLION
LABOUR FORCE BY OCCUPATION-
AGRICULTURE-6.4%
INDUSTRY-24.2%
SERVICES-69.4%
UNEMPLOYMENT3.8%(2012)
MAIN INDUSTRY-ELECTRONIC,TELECOMMUNICATION,AUTOMO
BILE,
PRODUCTION, CHEMICALS
SHIPBUILDING,STEEL. EASE OF DOING BUSINESS RANK8TH
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EXPORTUSD 548.2 BILLION (7TH2012)
EXPORTS GOODSSEMICONDUCTORS, WIRELE
TELECOMMUNICATIONS EQUIPMENT,MOTOR
VEHICALS,SHIPS,PETROCHEMICALS.
MAIN EXPORTCHINA -24.4%
US -10.1%
JAPAN7.1%
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IMPORTSUSD 520.5BILLION(8TH2012)
IMPORT GOODSMACHINERY,ELECTRONICS
AND ELECTRONIC EQUIPMENT,OIL,STEEL.
MAIN IMPORT PARTNER
CHINA-16.5%
JAPAN -13%
US8.5%
SAUDI ARABIA-7.1%
AUSTRALIA5.0%
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STANDARD AND POORS
AA-(DOMESTIC)
A+ (FOREIGN)
OUTLOOKSTABLE
MOODYS
Aa3
OUTLOOKSTABLE
FITCH - AA
OUTLOOK- STABLE
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AHNLAB INC -
INDUSTRYCOMPUTER SOFTWARE
FOUNDEDSEOUL , SOUTH KOREA(1995)
FOUNDERAHN CHEOL- SOO
PRODUCTION O/PANTIVIRUS,FIREWALL
SERVICESCOMPUTER SECURITY,
NETWORK SECURITY.EMPLOYEES1276(2009)
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INCA INTERNET
INDUSTRYCOMPUTER SOFTWARE FOUNDERYOUNG HEUM JOO
SERVICESCOMPUTER SECURITY,GAME
PORTAL
SECURITY. PENTA SECURITY
INDUSTRYCOMPUTER SOFTWARE
PRODUCTSFIREWALL, DATA ENCRYPTION
SOFTWARE
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Languages:- Korean, English. Population:- 48,955,203 (2013)
Percentage of Population Allocation:-
0-14 yrs- 14.6%
15-24 yrs- 13.6% 25-54- 47.8%
55-64 yrs- 11.71%
65 & Above -12.3%
Religions:-
Christian
Roman Catholics
Buddhist
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Social Analysis
Current Strengths
High wages
Highly educated workforce
Rapid urbanization
Current Challenges
Low fertility rate
Ageing society
Low social welfare spending
Future Prospect
Low unemployment rate
Rising awareness of human rights
Future Risk
Rising power of Labor Unions.
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Koreans intense users -electronic media, broadband
computer connectivity and cell phone.
Transition to IT-dominated economy started from 1990s.
IT policy think tank recommended full privatization.
Liberalization in mid 1990s led to new entrants. Prior to
this S&T policies was implemented in 1980s.
One of the leading IT nations.
Ranked number one among 152 countries among the ICTdevelopment index 2011 which measures the level of IT
development.
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Losing competitiveness in IT industry.
The industry saw profits drop sharply in 2010-2011. It took Koreas major IT producers, Samsung, LG,
and Hyundai, two years after introduction of theiPhone before they introduced their own smart
phones.
In 2010 MKE outlined a major plan to restorecompetitiveness.
development of a 3-D industry merging of medical and IT technologies applying IT technologies to more traditional
industries, such as automobiles, robotics,machinery, and shipbuilding.
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Koreans neither have the resources of Japan and the
U.S., nor it have cheap technological manpower of
China.
Koreans need to:-
Build greater stock of technological knowledge.
To ward off China challenge, Korean can channel
Chinas Strengths to complement their own abilities. Like Japan, Koreans need to inject more creative or
innovative thinking.
The highly educated labor force should be better
equipped to apply knowledge.
Capture the future of IT.
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CURRENT STRENGTHSPromotion of national parks
Strong government intervention to protect environment.
CURRENT CHALLENGES
Limited natural resources
Soil erosion
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FUTURE PROSPECTS
Environmental technology development.
Eco businesses and green GDP.
Promotion of environmental education.
FUTURE RISK
Rising emissions levels.Dam in north Korea.
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The Asia pacific region had made a rapid economic growthin the latter half of the 20thcentury but many countries in
the region are facing serious economic crises ,so koreas
strategy to over come this crises is to utilize IT sector to
boost their economy.
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