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MULTIPLE PARTIES SYSTEM

ELECTION OF PRESIDENT

ROLE OF PRESIDENT

NATIONAL ASSEMBLY

ROLE OF PRIME MINISTER

17 DIFFERENT MINISTRIES

IT COMES UNDER MINISTRY OF INFORMATION

AND COMMUNICATION

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SOUTH KOREA ADAPTED AN EXPORT ORENTED

ECONOMIC STRATEGY.

WORLD BANK DESCRIBES KOREA AS ONE OF THE

FASTEST GROWING MAJOR ECONOMIES OF NEXT

GENERATION ALONG WITH BRIC AND INDONESIA.

SOUTH KOREA HAS A MARKET ECONOMY WHICH

RANKS 15THIN WORLD BY NOMINAL GDP AND

12THBY PPP.

PART OF G20

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GDP - NOMINAL USD 1.151 TRILLION(2012)

PPPUSD 1.554 TRILLION (2012)

GDP GROWTH - 2.1%(2012)

GDP PER CAPITAUSD 32,000

GDP BY SECTOR

I. AGRICULTURE -2.6%

II. INDUSTRY39.2%

III. SERVICES58.2% (2010) INFLATION4.2%

POPULATION BELOW POVERTY LINE15%

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LABOUR FORCE25.18 MILLION

LABOUR FORCE BY OCCUPATION-

AGRICULTURE-6.4%

INDUSTRY-24.2%

SERVICES-69.4%

UNEMPLOYMENT3.8%(2012)

MAIN INDUSTRY-ELECTRONIC,TELECOMMUNICATION,AUTOMO

BILE,

PRODUCTION, CHEMICALS

SHIPBUILDING,STEEL. EASE OF DOING BUSINESS RANK8TH

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EXPORTUSD 548.2 BILLION (7TH2012)

EXPORTS GOODSSEMICONDUCTORS, WIRELE

TELECOMMUNICATIONS EQUIPMENT,MOTOR

VEHICALS,SHIPS,PETROCHEMICALS.

MAIN EXPORTCHINA -24.4%

US -10.1%

JAPAN7.1%

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IMPORTSUSD 520.5BILLION(8TH2012)

IMPORT GOODSMACHINERY,ELECTRONICS

AND ELECTRONIC EQUIPMENT,OIL,STEEL.

MAIN IMPORT PARTNER

CHINA-16.5%

JAPAN -13%

US8.5%

SAUDI ARABIA-7.1%

AUSTRALIA5.0%

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STANDARD AND POORS

AA-(DOMESTIC)

A+ (FOREIGN)

OUTLOOKSTABLE

MOODYS

Aa3

OUTLOOKSTABLE

FITCH - AA

OUTLOOK- STABLE

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AHNLAB INC -

INDUSTRYCOMPUTER SOFTWARE

FOUNDEDSEOUL , SOUTH KOREA(1995)

FOUNDERAHN CHEOL- SOO

PRODUCTION O/PANTIVIRUS,FIREWALL

SERVICESCOMPUTER SECURITY,

NETWORK SECURITY.EMPLOYEES1276(2009)

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INCA INTERNET

INDUSTRYCOMPUTER SOFTWARE FOUNDERYOUNG HEUM JOO

SERVICESCOMPUTER SECURITY,GAME

PORTAL

SECURITY. PENTA SECURITY

INDUSTRYCOMPUTER SOFTWARE

PRODUCTSFIREWALL, DATA ENCRYPTION

SOFTWARE

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Languages:- Korean, English. Population:- 48,955,203 (2013)

Percentage of Population Allocation:-

0-14 yrs- 14.6%

15-24 yrs- 13.6% 25-54- 47.8%

55-64 yrs- 11.71%

65 & Above -12.3%

Religions:-

Christian

Roman Catholics

Buddhist

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Social Analysis

Current Strengths

High wages

Highly educated workforce

Rapid urbanization

Current Challenges

Low fertility rate

Ageing society

Low social welfare spending

Future Prospect

Low unemployment rate

Rising awareness of human rights

Future Risk

Rising power of Labor Unions.

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Koreans intense users -electronic media, broadband

computer connectivity and cell phone.

Transition to IT-dominated economy started from 1990s.

IT policy think tank recommended full privatization.

Liberalization in mid 1990s led to new entrants. Prior to

this S&T policies was implemented in 1980s.

One of the leading IT nations.

Ranked number one among 152 countries among the ICTdevelopment index 2011 which measures the level of IT

development.

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Losing competitiveness in IT industry.

The industry saw profits drop sharply in 2010-2011. It took Koreas major IT producers, Samsung, LG,

and Hyundai, two years after introduction of theiPhone before they introduced their own smart

phones.

In 2010 MKE outlined a major plan to restorecompetitiveness.

development of a 3-D industry merging of medical and IT technologies applying IT technologies to more traditional

industries, such as automobiles, robotics,machinery, and shipbuilding.

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Koreans neither have the resources of Japan and the

U.S., nor it have cheap technological manpower of

China.

Koreans need to:-

Build greater stock of technological knowledge.

To ward off China challenge, Korean can channel

Chinas Strengths to complement their own abilities. Like Japan, Koreans need to inject more creative or

innovative thinking.

The highly educated labor force should be better

equipped to apply knowledge.

Capture the future of IT.

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CURRENT STRENGTHSPromotion of national parks

Strong government intervention to protect environment.

CURRENT CHALLENGES

Limited natural resources

Soil erosion

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FUTURE PROSPECTS

Environmental technology development.

Eco businesses and green GDP.

Promotion of environmental education.

FUTURE RISK

Rising emissions levels.Dam in north Korea.

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The Asia pacific region had made a rapid economic growthin the latter half of the 20thcentury but many countries in

the region are facing serious economic crises ,so koreas

strategy to over come this crises is to utilize IT sector to

boost their economy.

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