South Korea 宏观经济 report

South KoreaPrepared by110107 Alice 孟颖110118 Freedom 闫晓琦110123 Kerry 王紫娇110127 Mei 李玲110133 Anna 王忠秀June 18, 2013CONTENTS IntroductionGeographyPoliticalPopulationGDPFinancial systemMain industryTrading partnersCost of livingHDIConclusionIntroductionThis report is about South Korea. We will introduce you some information about this country. South Korea has become the third Asian country after Japan and Singapore in developed countries. This report includes the information of geography, political, population, major industry, trade partners, cost of living, HDI, financial system and GDP. As we all know, today South Korea’s economy is growth well. Below are the details of these parts.GeographyAbout the geography, Korean Peninsula is located in the northeast Asian continent. It's up to eleven hundred kilometers. South Korea is the southern Korean peninsula. South Korea's total area is about one hundred thousand square kilometers and it's about 45% of the area of the peninsula. The west of the peninsula border with Yellow Sea, east of the peninsula border with the sea of Japan, south of the peninsula are border with Korea strait and East China Sea. South Korea also has three thousand two hundred small islands, and the most popular one is called Jejudo.PoliticalSouth Korean’s politics mainly reference to the United States. It's according to the political system which has three major points such as legislative, judicial, administrative to keep the government running smoothly. South Korea implements the ruling of multi-party cooperation. At present, there are Grand National Party, Unified Democratic Party, Unified Progressive Party and Liberal Party of advanced in South Korea.South Korea occupies the southern portion of the Korean Peninsula, which extends some 1,100 kilometers from the Asian mainland. This mountainous peninsula is flanked by the Yellow Sea to the west, and Sea of Japan to the east. Its southern tip lies on the Korea Strait and the East China Sea. The country, including all its islands, lies between latitudes 33° and 39°N, and longitudes 124° and 130°E. Its total area is 100,032 square kilometers. South Korea can be divided into four general regions: an eastern region of high mountain ranges and narrow coastal plains; a western region of broad coastal plains, river basins, and rolling hills; a southwestern region of mountains and valleys; and a southeastern region dominated by the broad basin ofthe Nakdong River. South Korea's terrain is mostly mountainous, most of which is not arable. Lowlands, located primarily in the west and southeast, make up only 30% of the total land area. About three thousand islands, mostly small and uninhabited,lie off the western and southern coasts of South Korea. Jeju-do is about 100 kilometers off the southern coast of South Korea. It is the country's largest island, with an area of 1,845 square kilometers. Jeju is also the site of South Korea's highest point: Hallasan, an extinct volcano, reaches 1,950 meters above sea level. The easternmost islands of South Korea include Ulleungdo and Liancourt Rocks (Dokdo), while Marado and Socotra Rock are the southernmost islands of South Korea. South Korea has 20 national parks and popular nature places like the Boseong TeaFields, Suncheon Bay Ecological Park, and the first national park of Jirisan. Under its current constitution the state is sometimes referred to as the Sixth Republic of South Korea. Like many democratic states, South Korea has a government divided intothree branches: executive, judicial, and legislative. The executive and legislative branches operate primarily at the national level, although various ministries in the executive branch also carry out local functions. Local governments aresemi-autonomous, and contain executive and legislative bodies of their own. The judicial branch operates at both the national and local levels. South Korea is a constitutional democracy. The South Korean government's structure is determined by the Constitution of the Republic of Korea. This document has been revised several times since its first promulgation in 1948 at independence. However, it has retained many broad characteristics and with the exception of the short-lived Second Republic of South Korea, the country has always had a presidential system with an independent chief executive. The first direct election was also held in 1948. Although South Korea experienced a series of military dictatorships from the 1960s up until the 1980s, it has since developed into a successful liberal democracy. Today, the CIA World Factbook describes South Korea's democracy as a "fully functioning modern democracy".PopulationNow the Korean peninsula is one of the most single nation and region in the world. Although there are many different centuries of Asian peoples migrated to the Korean peninsula, but only a handful of permanent settle down, so that by the 1990s, North Korea and South Korea, with the world's most ethnically homogeneous nation. In Korea, foreign nationals, such as Westerners, the Chinese and the Japanese only a handful of percentage of the population and are mostly short-term residence. In SouthKorea, Christianity 26.3% (Protestant 19.7%, Catholic 6.6%), Buddhist 23.2%, other or unknown 1.3%, 49.3%, non-. In 2008, South Korea population is almost fifty million. The age structure of South Korea is into the era of aging. Because in Korea, 0-14 years old accounted for 7percent; 15-65 years old accounted for 83percent; 65 and more accounted for 10 percent. When a country has 7% of the population is over 65 years, this country has entered the aging. The median age of Korea is 36.4. Its population of growth rate is 0.371. The life expectancy of the population is usually 77 years. The interesting thing is the life expectancy of women than men, the fact that it is always.EmploymentSouth Korea's service sector accounted for 78% of employment. The government trains unemployed people to increase their chances. The rate of South Korea unemployment is increased when unemployment Korea will flow to neighboring countries to seek employment opportunities. Those people resulting in the employment pressure on neighboring countries. Of course, some of the highly educated Chinese people will go to South Korea to increase employment and the unemployment rate in South Korea of their people. Unemployment in South Korea as long as the current is just graduated or no experience of young people, Korean companies are more willing to hire people with experience because training costs too high. It is located in New York's Rob Starzi global companies around the world recently made survey of 32 countries, South Korea workforce longest average working hours per week for 55.1 hours. Although the South Korean government tosupport the country's rapid development of SMEs, mainly at young people but most people still unable to find employment working. With the progress of the times, Korean jobs are becoming more and more essential skills, English and Chinese has become currently the most important employment skills, with multiple skills can get better represent the positions and higher wages and employment is no longer a problem. Many South Koreans cannot find work because of domestic work to neighboring countries, which do not want to return to Korea, because in Korea they cannot feed themselves. But these cases with the government's positive adjustment is improving, South Korea's total unemployment rate decreased, the employment rate improved significantly. Government to adjust the Korean employment made a significant contribution.Major industryToday, South Korea's economic potentiality is abundant, iron and steel, automobile, shipbuilding, electronics, textile and so on has become South Korea's pillar industry, shipbuilding and automobile manufacturing industries is more famous in the world. Large enterprise groups in the south Korean economy occupies very important position, Samsung, Hyundai motor co., LTD., SK, LG and KT (Korea telecom company) of large enterprise groups, such as creating value in the national economy accounted for more than 60%.Steel industrySouth Korean steel industry "leader" is South Korea's economic growth. In the past 30 years, South Korea iron and steel industry in the lead of South Korea's economicgrowth plays a key role.From the point of production, in 2008, South Korea's iron and steel production capacity of 53.6 million tons, ranking sixth in the world. China is the world's largest steel-producing countries, steel production of 500 million tons in 2008.From the enterprise perspective, is the world's fourth largest steel enterprise, Pasco Company steel production of 34.7 million tons in 2008; South Korea's second-largest steel company in modern iron and steel company was ranked no. 30, 2008 steel production is 10 million tons.In addition, South Korea local each year 75% of production to the supply of domestic iron and steel enterprise, 32.5% of which flows to the construction industry, 23.2% of the shipbuilding industry, and 22.3% to automobile manufacturing. Production of the remaining 25% are exported to international markets, 22.1% of which flows to southeast Asia, 17.8% going to China, to Japan, 13.2% and 10.8% to the us. Although every year to produce large amounts of steel, but due to the rapid development of automobile and shipbuilding, South Korea in 2002 to a net importer of steel.Electronic industryNow, South Korea's leading export electronic products for the semiconductor, the personal computer, audio products, color TV sets, recorders, CRTS, video tapes, microwave oven, refrigerator, etc., future product development focus, to semiconductor type TFT liquid crystal display device, application specific IC (ASIC) dynamic random access memory, memory capacity, high consumer electronics ofhigh resolution TV, digital recorders and cameras, cable television systems, multimedia information computer products, exchange of large computers, personal digital processor communication class code points address access (CDMA) mobile communication system, asynchronous transfer mode switching equipment, integrated services digital network, fax machines, broadband information network related software and equipment, etc.Trend partnersChina, the U.S. and Japan are the major trend partners of South Korea. With the enlargement of the development of globalization and international economic exchanges, has the geography, culture close to the advantages of China and South Korea trade scale between the two countries is growing fast. Early started trade with China and South Korea, China has just adopted a policy of reform and opening up of around 1979. At that time is through Hong Kong, small-scale commodity trading on the basis of indirect trade. Both the South Korea and the U.S. signed the worlds largest a bilateral free trade agreement. China, Japan and South Korea free trade area is in the idea of the China-Japan-ROK leaders meeting; members include the People's Republic of China, Japan, and the republic of Korea. Aim is to gradually eliminate tariff barriers between the three, to strengthen trade, investment, finance and monetary exchange.Cost of livingCost of living is determined by comparing how much things cost in comparison to how much you earn. The cost of living in Korea is quite low compared to other Asiancountries such as Japan and China but this can vary from city to city. The main areas of expenditure are housing and education, while general transport costs remain low. Eating Korean food is a lot cheaper than buying Western food, and shopping at markets and smaller shops is more cost effective than shopping in tourist hotspots or at major department stores. Education costs are low compared to other places for items such as crèche / pre-school fees, primary school fees, high school fees and tertiary study fees. Transport costs are very high compared to other places for items such as fuel (petrol/gasoline), public transport, vehicle purchase and maintenance. Generally, living a Korean lifestyle makes it possible to boost your savings, depending on the lifestyle you choose. Living in the rural areas of Korea is cheaper than life in the city. If you like to shop then rural Korea is not the ideal place to do this. If you are not a big spender and like the quiet life, rural Korea is a good place to reside.HDIThe HDI represents a push for a broader definition of well-being and provides a composite measure of three basic dimensions of human development: health, education and income. Data availability determines HDI country coverage. Between 1980 and 2012 Korea (Republic of)'s HDI rose by 1.6% annually from 0.640 to 0.909 today, which gives the country a rank of 12 out of 187 countries with comparable data. Korea placed (Republic of) above the regional average. The HDI tells both of national and regional level that continues to divide our interconnected world. Moreover, high GDP growth does not necessarily translate to progress in human development. Globalexperience has shown that income and human development are not always perfect companions, where some countries display relatively high levels of human development for their income and vice versa.Financial systemSince the nineteen fifties end, South Korea has experienced three times of financial system reform, every change made remarkable achievements, the economy or the economic development of South Korea's recovery has the profound influence. The first change: the government tube.The legislation of the management and control of banks. The government in formulating and implementing financial policies and measures for the development of non-bank financial institutions second times change: financial liberalization. Let go of the deposit and loan interest rates, interest rate liberalization relax control expansion of autonomy and business field, the state-owned bank privatization, opening up the financial industry. The third change: all-round opening up. The restructuring of the financial institutions. To expand the domestic financial sector opening to the outside worldAccording to the South Korean bank (central bank) 28 released the "2012 annual gross domestic product (GDP) forecasts" data, South Korea last year the actual GDP 1103.46 trillion won (about RMB 6.39 Yuan, an increase of 2%). Including Samsung last year global sales accounted for about 18% of South Korea's GDP. According to the Central South Korea Bank statistics, South Korea last year's economic value added (GV A) total 993.31 trillion won. Among them, the manufacturing sectoraccounted for 31.7%, 315 trillion won. According to the South Korean population of 50000000 calculations, real GDP per capita reached 22070000 won, 340000 won more than 21730000 in 2011.GDPSouth Korea last year, real GDP growth rate is not ideal, but Samsung and Hyundai, South Korea domestic large enterprises relative growth rate is impressive. Sales of Samsung last year reached 201 trillion won, the actual GDP accounted for 18%, 3 percentage points higher than in 2011. Last year, Samsung Electronics and Hyundai Motor (84.5 trillion won) sales total actual GDP South Korea 26%. Looking at the development of the South Korean economy, "according to Hollis Chanari(H.B.Chenery) study, the main conversion of the South Korean economy growth period (transitional growth) for the 1963 to 1983. In 1963, with the establishment of the first five years of the implementation of the plan economy, industrialization was officially launched. In 1970, South Korea became a newly industrialized country. In 1983 South Korea experienced in 1979 second times the energy crisis, to restore economic negative growth in 1980, and to promote self-discipline, opening in the stable economic basis." And experienced the most painful setback for the economic development history of the 1997 financial crisis after, the Korean economy is a comprehensive reform, and achieved initial results.ReferencesCost of living in South Korea. Retrieved from /south-k orea /cost-of-living-in-south-koreaFinancial system. Retrieved from /view/79b7711d227 916888486d777.htmlGeography. Retrieved from /wiki/South_KoreaGDP. Retrieved from /wiki/South_KoreaInternational human development indicators. Retrieved from http://hdrstats.un /en/countries/profiles/KOR.htmlMain industry. Retrieved from /a/95/20091126/24892883B4D2A0.htmlMain industry in South Korea. Retrieved from /2007 0405/n249221745.shtmlPopulation in South Korea. Retrieved from http://zh.wikipedia.or g/wiki/%E9%9 F%93%E5%9 C%8B%E4%BA%BA%E5%8F%A3Trading partners with South Korea. Retrieved from http://zh.wikiped/zh/%E4%B8%AD%E 6%97 %A5%E9%9F%A9%E8%87%AA%E7%94% B1%E8%B4%B8%E6%98%93%E5%8C%BATrading partner. Retrieved from /t_12726_0_235878.html。