Member-only story
A Brief Over View of the South Korean Economy
South Korea is one of the most successful economies in East Asia, only trailing Japan, Taiwan, and Singapore in economic prosperity.
It has grown in the past five decades from a rural economy focused on food exports and intern markets.
(Here is my behind the paywall link.)
Mineral resources in South Korea are meagre. The most essential reserves are anthracite coal, iron ore, graphite, gold, silver, tungsten, lead, and zinc, constituting some two-thirds of the total value of mineral resources. Deposits of graphite and tungsten are among the largest in the world.
Despite having few natural resources like iron ore, South Korea is one of the most dynamic economies in the world and a significant exporter of manufactured goods.
The South Korean Economy is now home to internationally recognised companies such as Samsung, LG, Sk Hynix, and Hyundai, which export products ranging from cutting-edge technology to industrial machinery worldwide.
It is incredibly remarkable after suffering from 35 years of Imperial Japanese occupation and a bloody civil war between the communist North and capitalist South Korea, it has gone from a dictatorship and transformed itself into a democracy with a thriving economy.
