South Korea Flashcards
GNP per capita
1963 $100
2003 $10 000
Life expectancy
54 to 76
Infant mortality
8% to 0.8%
11th
Largest economy in 2003
Population
49m dense
More than doubled since 1950
What happened in 1945
Split into north and south
1910
Japanese colony exploited resources
1950
Korean War
Communist in soviet
Capitalist in US zone
Resources
Not rich in minerals
Small amounts of coal, iron and copper- no gas
Where did they receive economic aid from?
USA
Cheap labour
1/10 of Japan wage in 1963
Well educated work forces
Why strong gov?
Prevented trade unions from striking
Economic crisis
1997
Manufacturing industry
Labour intensive consumer goods
Textiles clothing footwear
1970s capital intensive
1980s high technology
Textiles
3rd largest exporter
14% exports 16% work force
Increasing competition from lower wage countries - protectionism