SOME SOURCES AND REASONS FOR THE IMPRESSIVE ECONOMIC SUCCESS OF THE REPUBLIC OF KOREA
M. A. MOREKHODOV
Republic of Korea in the Global economy Keywords:, innovative technologies. investment climate, export opportunities
December 5, 2011 was a landmark day in the history of the Republic of Korea. On this day, the country's foreign trade balance has crossed the $1 trillion threshold since the beginning of the year. There were still 27 days left until the end of the year, and at its end it turned out that the total balance for the year amounted to $1.08 trillion (exports - $557 billion, imports - $523 billion; a positive balance in the trade balance - $34 billion).
The Republic of Korea (ROK) has become one of the world's leading countries that have passed the $1 trillion threshold in the trade balance and is here in the "community" of the most developed economies in the world. At the same time, it should be taken into account that in the club of trillionaire countries, South Korea is one of the smallest; in terms of territory size and population, it is ahead only of the Netherlands. And at the same time, it firmly occupies the 3rd place in terms of the variety of exported products; only Germany and the Netherlands are ahead of it in this indicator.
Economic reforms in the country began in 1962 with the adoption of the first five - year plan (1962-1966). Then the Republic of Korea ranked 104th in the world, now-15th in terms of economic development, and GDP per capita has grown many times 1.
It's been 50 years. The hard creative work of the state and society leaders has radically changed the country's economic and social image, political development has gained stability, and democratic institutions have gained a modern look. The main social problems and issues of employment of the population have been solved. The leaders of the country and the people managed to unite their efforts around the main directions of economic development that combine high t ... Read more