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South Korean Economy, Imports & Exports

South Korean is economy is one of the top 20 economies of world and high-income developed country whereas it is the 7th biggest exporter and 10th largest importer of the world. South Korea is country with a labor force of almost 24 Million individuals who are mainly deployed in industrial sector where only 7% is engaged with Agriculture sector. Korea is an economy with great dependence on service sector which is composed of almost 68% of the economy.

Imports & Exports:

Total amount earn through exports is US $558.8 Billion whereas total spending in Imports is US $525.2 Billion (2011).

Exporting Products

- Semiconductors
- Wireless telecommunications equipment
- Motor vehicles
- Computers
- Steel
- Petrochemicals

Importing products

- Machinery
- Electronics & electronic equipment
- Steel
- Transport equipment
- Organic chemicals
- Plastics

I have tried to present a brief overview of Korean economy; please do share you feedbacks as well.

Posted by: phillip on Feb 20 2012

Tags: Business

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