Wednesday, February 5, 2014

Is South Korea developing or developed economy

South Korean economy fits between the rich countries of Europe, the U.S. and Japan and the developing countries. Still, because of its heavy dependence on exports (56 percent of GDP), it resembles emerging markets in a world where export-led growth is no longer a winning game. The economy’s dominance by the chaebol conglomerates (82 percent of GDP) is also more typical of developing than mature economies.