...Summary South Korea has been politically stable since becoming a democratic state. However, its relationship with North Korea continues to present a strong challenge. South Korea fell into a brief financial crisis in 1997 due to structural weakness in the banking sector, however strong economic and financial reforms quickly countered the downturn and put the country back on a growth path by the following year. With the opening up of markets after the financial crisis in 1997, the country became one of the largest technology markets in the world. As far as social issues are concerned, the country has low population growth and fertility rates, leading to an ageing population. Furthermore, the country has a highly qualified labor force, which makes it possible to both produce and commercialize advanced technologies. The country is also well equipped with extensive broadband network and telecommunication facilities. Legal procedures in the country are time consuming and complex, which makes it very difficult for foreign investors. The environmental scenario of the country is characterized by the breach of emission standards, which is reaching unreasonable limits in spite of its relatively small area and population in comparison to other countries. Republic of Korea: Country Analysis Report – In-depth PESTLE Insights © Datamonitor. This brief is a licensed product and is not to be photocopied Published 06/2008 Page 11 PESTLE analysis Political analysis Overview South Korea...
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...PESTLE analysis PESTLE ANALYSIS Summary South Korea has been politically stable since becoming a democratic state. However, its relationship with North Korea continues to present a strong challenge. South Korea fell into a brief financial crisis in 1997 due to structural weakness in the banking sector, however strong economic and financial reforms quickly countered the downturn and put the country back on a growth path by the following year. With the opening up of markets after the financial crisis in 1997, the country became one of the largest technology markets in the world. As far as social issues are concerned, the country has low population growth and fertility rates, leading to an ageing population. Furthermore, the country has a highly qualified labor force, which makes it possible to both produce and commercialize advanced technologies. The country is also well equipped with extensive broadband network and telecommunication facilities. Legal procedures in the country are time consuming and complex, which makes it very difficult for foreign investors. The environmental scenario of the country is characterized by the breach of emission standards, which is reaching unreasonable limits in spite of its relatively small area and population in comparison to other countries. Republic of Korea: Country Analysis Report – In-depth PESTLE Insights © Datamonitor. This brief is a licensed product and is not to be photocopied Published 06/2008 Page 11 PESTLE...
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...In 1894, Kabo reforms were started by pro Japanese Korean officials (Eckert). Kabo reforms were a form of social reform program that was largely borrowed from Japan. This essay was going to analyze the Kabo reforms of Korea in 1894 and compared it with the customary constitution of 2013. After the implementation of Kabo reforms, the society was thoroughly transformed. Traditionally land used to belong to the king, although some definite land belonged to the families which were passed from one generation to the next and including communal land which was owned by clans. The Japanese conducted a land survey between 1910 and 1920 to place land ownership into the modern acreage. People who tilled their land for generally but could not legally prove that the land belonged to them had their land taken away from them. Those lands taken away came into control of the colonial government or into the hands of Japanese companies. So, some former landowners became landless or tenants in their previous land. The Japanese built, new roads, railways, schools, hospitals and established a modern system of government (John B. Duncan). All these developments were meant to link Korea and Japan. These projects provided the native Koreans with employment opportunities. The Koreans worked at the lower levels of these projects. A majority of Koreans suffered under the Japanese rule. Farmers were forced out of their farms, and Korean workers working in Japanese companies were treated like slaves. The...
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...culture is a body of ideas and values derived fundamentally from mysticism or subjectivism, as opposed to reason. Two examples of native non-western cultures that have been impacted by globalization are South Korea and China. Circumstances Before and After Event Prior to globalization South Korea has a GDP per captita of about one-third of nearby developed Asian economies such as Singapore, Hong Kong, and Japan. South Korea is a historical recipient of official development assistance (ODA) from organization for economic co-operation and development (OECD). After globalization the country’s GDP has increased from $88 billion to $1,460 billion. South Korea has advanced into a developed economy. The GDP per capita of South Korea is now almost thirteen times what it was thirty years ago. Now, South Korea has become the first major recipient of ODA to have ascended to the status of a major donor of ODA. (Wikipedia website, n.d.) China used to be the world’s most important opponent of globalization. China believed that global disorder was a good thing. They tried socialism, capitalism, empire, republic, warlords, religious fundamentalism, but all failed. Alienation was so severe, that much of the country accepted that the world economic and political order, and the Chinese economic and political order, were so stacked against them that any path to success had to start with destruction of the existing order. Now, China sends missions throughout the world seeking the best practice...
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...PESTEE Analysis Korea Political Analysis Political factors refer to political situation of the country and the extent to which it may affect and interfere with the project. Political system of South Korea has undergone a huge transformation to become a democratic country in 1987. South Korea became a stable democracy with strong political and economic support from the US The political landscape of the country include centralization of power which the implementation of economic reforms became faster and effective so that the country was fully focused on economic development and friendly to foreign investments, especially strengthening foreign relationships with emphasis on EU. According to economic forecast, South Korea is to become the seventh largest economy in the world within next ten years. Though the fact the relationship with North Korea remain tense and uneasy, the government aims to solve this situation in better way. Since crisis in 1997, the government opened the South Korean market to foreign investors by identifying Foreign direct investment (FDI) and abolished the harmful regulations on foreigner shareholdings in domestic companies. The taxation system and particularly corporate tax in South Korea was simplified encouraged foreign investments. |Current strengths: |Current challenge |Future prospects | |Centralized power of attorney |Military violence still...
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...South Korea vs. the Philippines: A Paragon of Economic Development? Ruben Reyes GLS – 102-005 Professor Eijmberts April 28, 2015 A little over half a century ago, South Korea was under the colonial rule of Japan, while the Philippines was colonized by the United States. It was not until the late 1940s did both countries gain their independence. After decades of political strife, ranging from conventional war to guerrilla conflict against the United States, the Philippines gained their independence on July 4, 1946. It was when the United States signed the Treaty of Manila, annexing the Philippines, as it became an independent commonwealth (Philippine Independence). Meanwhile, approximately two and a half thousand kilometers north of the Philippines, Japanese oppression ran rampant in the Korean peninsula. It was only until, the US had dropped two atomic bombs over Hiroshima and Nagasaki did Japan withdraw their troops from the peninsula, ending the Second World War. Thus, on August 13, 1948, South Korea had attained full autonomy from Japan, commemorating the end of the thirty-five year Japanese occupation, and the formation of the South Korean republic (National Liberation Day 2012). Similarly, following the liberation from colonial rule, both nations had experienced political turmoil, or economic deterioration as a result of war. Just 5 years following the liberation of Korea, the communist North invaded the South thus ensuing the Korean War and truncating into...
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...Economy of South Korea By Henry Graves Dr. Davis September 27, 2014 South Korea is known as one of the emerging economies of the entire world. The South Korean economy has been growing at a steady pace for the past 15 years; this is being accomplished with a dangerous situation with their northern neighbor. When the Korean War ended in 1953 by an armistice that defined the international boundaries between North and South Korea. However, these boundaries are merely a line of truce and hostilities continue between both sides as a search of a just reunification is sought by both countries, but by differing visions on the political future of the Korean peninsula. The question that must be addressed is how does South Korea continue to maintain their dominance in the economy of East Asian nations. The answer can be found by looking into the past history of Korea starting after the end of the Korean War, the present economic policies of the current government of South Korea, and what might the nation need to address in order to maintain their competitive advantage in the region. However, before I begin to look at the past history of South Korea's economy, I must state the present statistics of what has been accomplished in the country. Currently, South Korea is the fifteenth largest economy when measured by GDP and is twelfth in the purchasing power parity. The country has been experiencing economic growth starting from the 1960s until the late...
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...remained closed from the rest of the world have not been able to attain and sustain growth. Many developing countries have gained competitive advantages and growth by implementing open market and trade liberalization. Only through liberalism can economic potential be unleashed. Trace back to origin of liberalism, the Italian merchants wanted more freedom and rights and encouraged free trade in order to move towards a more liberal, innovative system. We will show you that free trade and innovation are the only viable and compatible models for development. We will also show that inevitably the world is moving towards embracing the liberal model. South Korea and Chile are two countries that transformed their economies from the poorest to the one of the best performers. They were both politically ruled under authoritarian regime but later on they all adopted liberal economy. In South Korea, post economic reform, their economy went to another level. GDP hits $1 trillion in 2007. South Korea is one of the fastest growing economies in the world, a huge contrast to its northern neighbor. In Chile poverty was reduced to half post the reform. It’s the first nation in South America to win membership in the Organization of Economic Cooperation and Development, an organization restricted to the world's richest and best-run countries What exactly have they done? They certainly have done few things right. They transformed to a free market economy, simplified business...
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...REGIONAL STUDIES PAPER ON SOUTH KOREA 1. Have you ever sat back and wondered what it would be like to live in another country. What is the first thing that comes to mind when you think of South Korea? Most likely it will probably be the Korean War or maybe even the 1988 Olympics. You may even, some day, be stationed there. I personally experienced the country first hand through a tour between 1988 and 1989. Korea is one of our major theaters of operation so it is very important for us to understand a little about their culture and where they came from to prepare for any future missions or tours in their arena. In order to introduce us to this fascinating country we will initially talk about their rich history. We will then cover a little about the people and their culture and finally, we will discuss their economy. Now that we have a vector, let’s start by discussing South Korean history. 2. Many historical events following World War II have culminated to shape the South Korea that you and I know today. The country came into being immediately following World War II, as a result of a 1945 agreement which made the 38th parallel the boundary between them and neighboring North Korea. The new republic was proclaimed on Aug. 15 and was recognized as the legal government of Korea by the United Nations (UN) on Dec. 12, 1948. On June 25, 1950, North Korean Communist forces launched a massive surprise attack on South Korea, quickly overrunning Seoul, the capital city...
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...investing on employees well being pays off when they become the leading company beating some of the top companies such as Sony, Apple and HTC. The process and development of human capital was never an easy matter for Samsung, in fact the culture has been practiced and improvised regularly ever since 1950 to fit to the demand and maturity of the current society and technology. Nevertheless at the end, Samsung indeed make a marked in the world with sustaining a Single Samsung culture. 1. Perform a PEST on Samsung and identify the change drivers POLITICAL | ECONOMIC | * Work hand in hand with the government; consist the same agendas and values.Change driver- Globalization Promotion Committee consisted of a set of committees on policy planning, administrative reform, educational reform, science and technology influences Samsung as well. | * Main contributor of economy status in south KoreaChange driver- top down reform of the Korean economy to meet the rapidly changing conditions of the world economy. | SOCIAL | TECHNOLOGICAL | *...
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...The role of the middle class in achieving democratic reforms in Asia Table of Contents 1. Abstract 3 2. Introduction 3 3. What is Middle Class? 3 4. Democratization (Democratic Reforms) 4 5. Democratization in Asia 4 6. Historical Cases of Democratization from Asia 4 6.1. Philippine 4 6.2. Taiwan 5 6.3. South Korea 5 6.4. Indonesia 5 6.5. Thailand 5 7. Middle Class & Democratization in Asia 6 8. Conclusion 7 9. References 7 10. Discussion Questions 8 1. Abstract This essay is about the role of middle class in the democratic reforms in Asia. It briefly discussed significance of middle class with many examples of democratic transitions in the region. 2. Introduction A question that is commonly raised about the democratization is that who make and strengthen the democracy, whether it is consolidated by elites or middle class? Many studies have given much emphasize to the role of elites in creation of democracy but the reforms happened in last two decades in Asia suggests that the contribution of middle class to the process of democratization can never be overlooked. In Philippines, Indonesia, Thailand and South Korea we cannot imagine the completion of democratization if we ignore the role of middle class although it is mostly seen in supportive role but successful democratic transition was only possible with its active participation. 3. What is Middle Class? Middle class is relatively vague concept as it has different meaning for different people...
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...Korea had been a colony of Japan since 1910. Along with the surrender of Japan in the World War II in 1945, the colonial period that had lasted for 35 years ended. As one can imagine, Korean people were extraordinarily happy when the Japanese announced surrender, since they could eventually get rid of the harsh days – of the language deprivation that they were forced to abandon Korean and adopt Japanese, and of family members having been sent overseas to serve the Japanese in all manners including being comfort women, and so forth. However, they did not know the Liberation was the start of another catastrophic period of time. The political vacuum engaged the United States and the Soviets who then occupied the peninsula, and caused a series of aftermath including the division of the nation which so-far seems to be permanent, and the tragic Korean War which lasted for four years. This essay briefly discusses the issues that took place in the period of 1945-50, after the Japanese surrender and before the Korean War that broke out on 25th June, 1950. A multilateral trusteeship of postwar Korea was suggested by the United States to the Soviets at the end of 1943, during the World War II. And when Japan signaled the intention of unconditional surrender to the World War II on 10th August 1945, the United States proposed temporary division of Korea along the 38th parallel of latitude for political and military purposes. The Soviets were in Korea fighting Japan at the Japanese...
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... the agriculture sector accounts a significant portion of the total employment, which ranged from 45-50% during the 1980s. On the other hand, this sector also attributed significant portions of the total poor in the country for decades. Thus, in June 1988, the Comprehensive Agrarian Reform Program (CARP) was signed into law, paving the way for extensive land distribution and reforms which communist insurgencies urged during the Marcos regime. Consequently, the initial stages of the implementation process of CARP was met with apparent complications, expectedly so given that such a policy entailed a wide scope, whilst rural landlords provided staunch opposition in seizing their ownership to government. However, as the years passed and administrations would change, the promises of sweeping agrarian reform have remained unfinished, otherwise, significantly watered down. Such arbitration would be considered a detrimental factor to the current pitfalls that have hindered the development of Philippine political economy. In that, this paper questions what led to this failure of comprehensive agrarian reform and in pronouncing these mistakes, did other countries experience who also employed land reforms if they experienced similar dilemmas. We argue that deeply seated class structures have inevitably played a role in this development policy outcome, particularly elite groups and landlords who have established themselves in the political arena. The...
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...Research at Minnesota State University, Mankato The Role of the International Monetary Funds (IMF) in the East Asian Debt Crisis of 1997 By Yaro Sadek Tahirou Minnesota State University, Mankato 2 ABSTRACT During the East Asian Financial crisis in particular, the IMF has been criticized of promoting international cooperation because of the supervised enforcement of its rules. The purpose of this research is to find out how the IMF responded to the East Asian debt crisis and whether or not its responses were the best possible responses to this crisis. Through my research, I talked about the causes of the East Asian financial crisis, the role of the IMF in the international monetary system, and if the IMF responses to Thailand, South Korea and Indonesia were the best responses or not. After analyzing the IMF responses in this crisis, I found that the IMF policies need to be reformed in order to monitor and prevent future financial crises spill-over effects at the global and regional levels. I will analyzed 5 scholarly journals on the financial crisis in East Asia, 3 scholarly articles on the role of IMF in the East Asia financial crisis, and 1 novel called POLITICS IN SOUTHEAST ASIA DEMOCRACY OR LESS by William Case. INTRODUCTION Several financial crises have occurred in the world economy through the last decades. Some examples include the East Asian financial Crisis of 1997, the Latin American debt crisis of 1994-95, the Russian crisis of 1998, and the Brazilian crisis...
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...FTA: South Korea & The EU | | | Table of Contents Executive Summary 2 Introduction 4 International Trade between South Korea & the European Union 6 A Macroeconomic Analysis of South Korea 6 The Free Trade Agreement between South Korea & the EU 6 International Trade between SK & EU 9 Other FTA Examples of South-Korea 10 World Trade Organization (WTO): Position regarding Bilateral Agreements 11 Conclusion & Recommendations 14 References / Endnotes 15 Appendices 17 Executive Summary This report analyzes trade relations between South Korea, one of the four Asian dragons, with the European Union, which has the largest nominal GDP and GDP PPP in the world. South Korea's industrialization, urbanization and GDP are rapidly growing mainly because of its comparative advantage in manufacturing and exporting of technological goods, its political centralization also supports a clear coordination and effectiveness of laws reforms. However, its aging population, low fertility rates, recent decline in FDIs and unresolved political disputes with Democratic People's Republic of Korea should be amended in order to increase consumer confidence and improve its international potential. South Korea's main partners are the United States of America and the European Union. The EU-South Korea Free Trade Agreement (2011) offers, among other things, preferential import duties and liberalization in trade of services via provisions for intellectual...
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