Korean economy
Peninsula's financial system
The Korean economy refers to the economic system of South Korea, one of the world's largest and most developed economies.
South Korea transformed from war-torn poverty in the 1950s to a global manufacturing and technology powerhouse—a trajectory sometimes called the "Miracle on the Han River." The economy is dominated by large conglomerates called chaebols (Samsung, Hyundai, LG) and is export-driven, with strengths in electronics, automobiles, shipbuilding, and semiconductors.
The Korean economy grew rapidly during the 1970s and 80s.
- exportsGoods sold abroad
- chaebolsKorean family-run corporate groups
- tech giantsLargest digital corporations
- Samsung GalaxyKorean Android smartphone line
- education systemStructured institutions for learning
manufacturing · central bank · semiconductors · imports · demographic trends · fiscal stimulus · automobiles · interest rates · work culture · working overtime · shipbuilding · labor unions · stock market · free trade agreements · employment rate · biotechnology · steel production · vocational training
Korean economycommand economy
State-controlled economic system
socialist economy · state-controlled economy · Soviet economy
Korea, Korean, Koreans, economy, economies, economic, economical, economically, economics