South Korea - A Leader in Information Technology and Global Trade

One unfamiliar with the Republic of Korea, or South Korea as it is even more generally recognized, may well immediately associate the country with its short however substantial war against its neighbor to the north in the 1950s. More than half a century later, South Korea stands powerful as 1 of the potent Asian Tigers in the global trade arena, a presidential republic presently ranked amongst the top ten exporters in the world. With over 300 billion dollars of export revenue recorded in 2009, this tiny country does an enormous business enterprise in technology and transportation industries that impact how the world moves and works daily.

The Miracle on the Han River

When a destitute area held under Japanese imperial rule, then split from North Korea soon after World War II, South Korea underwent significant growth beginning in the 1960s by means of rapid industrialization and democratization. Via drastic measures that included conservative spending of government budgets, improvement of education, and expansion of agricultural mechanization, South Korea saw an impressive rise in their gross national product over the next thirty years. By 1989, the country ready to enter the next decade with an impressive GNP of over 200 billion dollars, 68 times the total from the early 1960s!

Right now, this complete no cost democracy is known as 1 of the leading exporters to the United States, especially in the technologies and automotive sectors. If you own a Hyundai Elantra or Accent, you are driving a South Korea import. In fact, you could have a number of items in your residence or office that come from this emerging Asian economy.

• Flatscreen Televisions: as the world's largest manufacturer of LCD, OLED, and plasma screens, South Korea keeps up with the growing global demand for high definition tv. The Samsung Group, maker of the favorite brand, are based in Seoul.
  
• Automobiles: Not only is Hyundai the leading automaker in South Korea, it is the second largest car manufacturer in Asia, and presently 1 of the leading firms in terms of actual cars sold. Other makes originating from this country include Kia and Daewoo.
  
• Shipbuilding: The materials requirements to build the ships that carry cargo for global trade are created in the ports of this country. South Korea is possibly the largest provider of the raw steel and other items required to keep maritime commerce running smoothly.
  
• Mobile Communication and Electronics: Do you own an LG phone? If so, you own a product from this country's second-largest telecommunications organization. This multi-faceted small business also produces popular electronics, including DVD and Blu-Ray players, Flash memory drives, and laptops.

It might possibly surprise you to realize that several household items you feel you can't do without having come not from Japan or China, but this significant economic giant. Given their wonderful growth over the latter half of the twentieth century, and greater projected numbers in the decades to come, 1 might anticipate South Korea to eclipse her neighbors in the IT industry. So lengthy as the global demand for quicker and quicker ways of communication remains high, it is secure to bet the telecom conglomerates of South Korea will emerge to the forefront of new innovations.