Category: South Korea

Koreans Unnerved By Exploding Cost of Spicy Staple Kimchi


While President Obama and his fellow big wigs at the G-20 Seoul meeting likely didn’t have any,

kimchi – the fiery and pungent Korean national dish that typically combines cabbage, radishes, red chili peppers, garlic and salt –

has exploded in cost recently, making Koreans even more unhappy than the failure to reach a free trade agreement with the US.

The price for one head of long-leafed Napa cabbage grown in Korea has skyrocketed, to as much as $14, from about $2.50. 

South Korea Seeks Oil Security


South Korea, which imports almost all of its oil, has increasingly felt threatened,

as countries with high energy demands, like China, snatch up oil reserves from around the world.

As a result, the government gave its state-run oil company – Korea National Oil Corp., or K.N.O.C. –

a $6.5 billion war chest this year to fund acquisitions and project developments.

South Korea Thinking Ahead Re Unification w North


President Lee Myung-bak of South Korea has proposed a special tax to finance the enormous cost of reuniting with North Korea,

as concerns have deepened here over the North’s future after the eventual death of its ailing leader.

The proposal broached a delicate issue, and analysts said it could provoke an angry response from the North, which may see it as an aggressive move by the South.

Although all previous South Korean leaders have advocated rejoining the North,

South Korea Reinvents for Success


Planners in South Korea have a longstanding fetish for economic hubs.

Even so, the southern city of Busan seems to be pushing the obsession a bit far.

As one of the world’s largest container ports, it understandably wants to be a marine and logistics hub for northeast Asia.

But Busan’s slick promotional literature also boasts of its ambitions to be a hub

South Korea & US Moving To Finalize Free-Trade Deal


The Obama administration has announced that it would ask Congress to ratify a long-stalled free-trade agreement with South Korea after the midterm elections in November.

The decision, which risks angering labor unions and their Congressional supporters, was announced after a meeting with the South Korean president, Lee Myung-bak at the G-20 meeting in Toronto.

Mr. Obama’s aides said they would try to resolve lingering issues by the time of the next G-20 leaders’ talks,

South Korea – Fast Facts


The economic structure of the South Korean Economy was more planned in the past. Presently the economy has followed towards a market system.

Country’s economy is largely dependent upon the fuel exports. Both services sector as well as industrial sector is important in the economy. Services constitute a larger share in the Gross Domestic Product in the country followed by industrial sector.

South Korea Economic Stimulus


About South Korea economic stimulus
A South Korea economic stimulus was announced by national government on 3rd of November, 2008 fiscal. Its aggregate value was 14 trillion won or $11 billion. This economic stimulus package has assumed importance in wake of worst impending financial crisis in 10 years. Such a situation was faced by South Korea in previous decade, when they had to be bailed out by International Monetary Fund.

South Korea Economic Forecast


South Korea has proved its economic capacity as one of the four Asian Tigers by becoming one of the fastest growing developed countries in the 2000s. Since 2004, it has joined the ranks of the top world economies, with over a trillion dollars in GDP (PPP). In 2010, the South Korean economy posted a GDP (PPP) of US$1.459 trillion, a 7.12 percent growth from 2009. It is currently the 12th largest economy in the world in terms of GDP (PPP).

Korea: “Green” Mayor Transforms Seoul – Will Country Follow?


Seoul, South Korea Mayor Oh Se-hoon is among a new breed of South Korean politicians who increasingly stake their political fortunes on so-called green growth.

Seoul, South Korea Mayor Oh Se-hoon is among a new breed of South Korean politicians who increasingly stake their political fortunes on so-called green growth.