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South Korea Economy Presentation
Transcript of South Korea Economy Presentation
Ju Hyun Lee, Mayu Shigematsu, and Wince Leung
GDP :1960s - Present
GNP: 1970s - Present
Labor intensive manufactured exports
autos and semiconductors
Investments in public projects
roads and telecommunications
Why the Economic Growth?
1960s - Outward Looking Strategy (industrialization/ Central Government)
1980s - Monetary Policy & Fiscal Measures
2000s - Market Orientation Model
Strategies for Growth
Research & Innovation
Access to technology
Slower in Commercial research
Higher barrier to access to technology (monetary)
Major Industries in Korea
Kpop, Kdramas, Esports
Medical and Cosmetic
Challenges Faced by Korea
Labor threats from China, Bangladesh, Vietnam
Income disparity (gap between rich and poor)
Recommendations for Korea
Maintain or lower interest rates
Increase support for small/medium or local businesses
Grants, tax breaks or reductions
Maintain or increase supplier relationships for natural resources
Focus on research and innovation
patents, high skill level workers