콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Trade
Economy Economic Administration

Print

Export generation : Republic of Korea

Related Document
Frame of Image
  • Export generation
  • The World Bank Group
  • The World Bank Group


link
Title Export generation
Similar Titles
Sub Title

Republic of Korea

Material Type Articles
Author(English)

The World Bank Group

Publisher

[Washington, DC]:The World Bank Group

Date 2012
Series Title; No Country Benchmarks
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Economy < Economic Administration
Holding The World Bank Group

Abstract

South Korea is one of the top 10 exporters in the world, registering a growth of exports as percentage of GDP from 29 in 1995 to 52 in 2009. This export performance has helped the country of 50 million people grow from “low-income” to “industrialized economy” status in less than 50 years. Today its exports, mainly heavy industry products, are worth nearly US$50 billion. Several factors account for this success. First, Korea has maintained a good environment for doing business, especially by keeping the tax wedge one of the lowest in the OECD. Second, the government has promoted exports since the 1950s, recognizing their importance when much of the world was engaged in import substitution. It has been aggressive in negotiating free-trade agreements with large and growing economies. (The rest omitted)