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South Korea country report : BTI 2016

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  • South Korea country report
  • Bertelsmann Stiftung
  • Bertelsmann Stiftung


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Title South Korea country report
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Sub Title

BTI 2016

Material Type Reports
Author(English)

Bertelsmann Stiftung

Publisher

[Gütersloh, Germany]:Bertelsmann Stiftung

Date 2016
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic System
Government and Law < Political Systems
Holding Bertelsmann Stiftung

Abstract

The observation period of January 2013 to January 2015 corresponded with the first two years of the conservative Park Geun-hye administration, which succeeded the Lee Myung-bak administration in February 2013. Since the parliamentary elections in 2012, the conservative Saenuri Party has also held a strong majority in the parliament. Economic growth in Korea has remaThe observation period of January 2013 to January 2015 corresponded with the first two years of the conservative Park Geun-hye administration, which succeeded the Lee Myung-bak administration in February 2013. Since the parliamentary elections in 2012, the conservative Saenuri Party has also held a strong majority in the parliament. Economic growth in Korea has remained strong with a positive current account reflecting a strong export industry. Despite the positive macroeconomic trends, there has been much criticism aimed at the Park administration. The president has remained popular among older voters although her general approval ratings have slipped since the end of 2014, and went below 30% in January 2015. Economically, Korea remains divided between a strong export sector, dominated by large business conglomerates, and a weak SME sector employing the vast majority of Koreans. Unemployment is low, but precarious working conditions and increasing social inequality have been important issues in a country previously known for its relatively equal distribution of wealth.(The rest omitted)