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South Korea

  • Date Submitted: 04/24/2013 03:56 AM
  • Flesch-Kincaid Score: 49.2 
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Country report
South Korea – Electronic
Country Profile
In February 1945 the end of World War II, Korean Peninsula divided into North and South Korea. South Korea also name Republic of Korea, 99,392 sq. km, has a population of almost 50 million, and has its capital at Seoul, the largest city in Korea. The second largest city is Busan, which is the country’s main port, has wonderful nature harbor beside the delta of Nakdong River.
The major industrial prior 1948 was agriculture in Korea peninsula, South Korea was in a sever environment of economic. The war damage and the refugee from North Korea keep South Korea inflation and unemployment.
Korea is full of mineral source, however, most minerals concentrated in the North such as gold, coal, ore, iron and graphite. There are some tungsten, amorphous graphite, coal, and iron in South Korea and the distribution percentage is North 80%~90% to South 10%.  
International trade
Balance Of Payment

The table above is the South Korea’s balance of payments account and this table can track the payments to and the receipts from other countries from 2006 to 2010. As we can see the current account surplus in all five years and it means that these five years South Korea exports more goods, services, and income than it imports. (Data from world databank)
The Current Account

South Korea reported a current account surplus equivalent to US4231 Million in October of 2011. South Korea relies largely upon exports to fuel the growth of its economy. The most important exports are form electronics industry such as semiconductors, LCD panel, mobile phone, computers related, television, motor vehicle, steel, ships and petrochemicals. South Korea imports machinery, oil, steel, transport equipment, organic chemicals and plastics. (Bank of Korea)
(http://www.tradingeconomics.com/)

The Capital Account
Net capital account includes government debt forgiveness, investment grants in cash or in kind by a government entity, and taxes...

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