South Korea Market Assignment Example | Topics and Well Written Essays - 1000 words

south-central Korea Market - Assignment ExampleThrough planning, direct or indirect ownership and control of enterprises and financial institutions, regulation of foreign exchange, and implementation of appropriate monetary and fiscal policies, the Government played a crucial government agency in making market adjustments and maximizing incentives. This was aimed at pursuing the fulfillment of its desired economic, social, political, and pagan objectives. However, economic success, the increase in complexity of the economy, the emergence of a more than democratic and pluralistic society, and increasing international competitiveness were crucial factors in bringing about a decline in governments role in the South Korean economy. The reformist thrust of government economic policy, realized in the 1980s, was underlined by the renowned emphasis on the need for greater might in the economy. In addition, it improved labor productivity and enhanced competitiveness in order to meet the demands of globalization. The admission of South Korea, in December 1996, to rank and file of the Organization for Economic Co-operation and Development (OECD) was an some other watershed, which heightened the importance of economic reform, which is a step away from negativity the Asian financial crisis, which highlighted long-standing structural weaknesses in the South Korean economy (Paik 69). Demographic Information of South Korea South Korea is, in fact, regarded as one of the worlds most densely populated countries, with 440 hatful per square kilometer. However, most people are concentrated in the major cities (Lie 16). The principal cities in South Korea include Seoul, Busan, Daegu, Ulsan, and Incheon. In these four cities, the population dumbness is about two-thirds of the whole population of South Korea (Caselli 129). The countrys capital city is Seoul. It covers about 12% of the total countrys area. Like the other cities, it is home to approximately 45% of the countrys population as such, the 3rd largest and populated urban center in the world. Current statistics show that more than 50% of the immigrants are moving to the capital city. Indeed, it has been speculated that about 55% of the national population will be living in the capital city. South Korea is officially recognized as the state of Korea with an area of 99,268 km2. According to information published by the World Bank, the total population is 48.747 million by 2009. Figure I. Republic of South Korea (Source U.S. Department par. 1) The official language in the role is Korean, and it is closely related to Mongolian and Japanese. Although there is a clear difference in grammar with the Chinese language, a large number of the Chinese cognates still exist in the Korean language. Modern Korean articulates to hangula phonetic writing systemin their writings. The country borders North Korea on its Northern part. The country is also surrounded by a mass of water encompassing the Sea of Japan and the xanthous Sea. It is separated from Japan by the Sea of Japan (Paik 77). Koreas ethnical group has been regarded as the most linguistically homogenous in the whole world. The region is occupied by Koreans, however, about 20,000 people of Chinese descendants occupy some parts of the country. Indeed, all Koreans have a common linguistic and cultural heritage. The South Korean political system is based on the Republican form of governance. The President is the Head of State, and the Prime Minister acts as the Head of Government. The cause is shared between the legislature, executive, and judiciary. Currently, the South Korean president is Lee Myung-bak, while the Prime Minister is Han Seung-soo.