group assignment south koreas economic situation after the war with north korea

GROUP ASSIGNMENTthe Korea EconomyGroup members: Nguyễn Thành Luân SS171184Lê Nguyễn Nhật Minh SS171207-Trần Nguyên Khôi SS171304Bùi Nguyễn Quốc Huy SE173128... South Korea''''s economic sit

GROUP ASSIGNMENT

the Korea Economy

Group members: Nguyễn Thành Luân SS171184

Lê Nguyễn Nhật Minh SS171207

-Trần Nguyên Khôi SS171304

Bùi Nguyễn Quốc Huy SE173128

1 South Korea's economic situation after the war with North Korea… 7

2 Samsung's Role in the Miracle of the Han River……….8

IV Samsung's Influence on the Korean Economy……… 9

1 Samsung's losses after 14 years……… 9

2 Korean economy after the losses of Samsung……….11

V Conclusion……… 13

VI References……….14

I Terms used in Article

1 GDP (Grossdomesticproduct):GDPmeasuresthemonetaryvalueoffinalgoodsandservices—thatis,thosethatareboughtbythefinaluser—producedinacountryinagivenperiodoftime(sayaquarterorayear).

2 Nominal gross domestic product (GDP) isGDPgivenincurrentprices,withoutadjustmentforinflation.

3 Gross national product (GNP) isanestimateofthetotalvalueofallthefinalproductsandservicesturnedoutinagivenperiodbythemeansofproductionownedbyacountry'sresidents.

4 CPI: The Consumer Price Index (CPI) isameasureoftheaveragechangeovertimeinthepricespaidbyurbanconsumersforamarketbasketofconsumergoodsandservices.

5 Inflation isariseinprices,whichcanbetranslatedasthedeclineofpurchasingpowerovertime.Therateatwhichpurchasingpowerdropscanbereflectedintheaveragepriceincreaseofabasketofselectedgoodsandservicesoversomeperiodoftime.

6 Exports:Export refers toa product or service produced in one countrybut sold to a buyer abroad.

7 A mixed economic systemisasystemthatcombinesaspectsofbothcapitalismandsocialism.Amixedeconomicsystemprotectsprivatepropertyandallowsalevelofeconomicfreedomintheuseofcapital,

II Introduction1 Korea.

TheKoreaneconomyisahighlydevelopedmixedeconomycharacterizedbyconglomeratesownedbywealthyfamiliesknownasChaebol.SouthKoreaisthe4thlargesteconomyinAsiaandthe10thlargest intheworldbynominalGDP.Thisisafamouscountryknowntomanypeopleforitsmiraculouseconomicgrowthfromoneofthepoorestcountriesintheworldtoahigh-incomedevelopedcountryinjustafewgenerations.

KeyInformationaboutSouthKoreaNominalGDPGrowthSouthKoreaNominalGDPGrowthwasreportedat2.179%inMar2023.

2 Samsung

Oneofthemostwell-knownandinfluentialcompaniesinKoreaisSamsung.SamsungGroupisamultinationalconglomeratethatwasfoundedin1938.Ithassincegrowntobecomeoneoftheworld'slargesttechnologycompanies,offeringawiderangeofproductsandservicesacrossvariousindustries.SamsungElectronics,asubsidiaryofSamsungGroup,isparticularlyfamousforitsconsumerelectronics,includingsmartphones,televisions,homeappliances,andmore.Thecompany'sinnovativetechnologyandhigh-qualityproductshavemadeitaglobal

In2021,therevenueofthe15largestaffiliatedcompaniesoftheSamsungGroupaccountedforabout20.3%ofKorea'sGrossDomesticProduct(GDP).

III Content

1 SouthKorea'seconomicsituationaftertheWarwithNorthKoreaAfterthewarwithNorthKorea,SouthKorea'seconomyunderwentaremarkabletransformation.

Overall,SouthKorea'seconomicdevelopmentpost-warisconsideredremarkable.

2 Samsung'sRoleintheMiracleoftheHanRiver.

IndustrialDiversification:Samsung'sexpansionintodiverseindustries,includingelectronics,shipbuilding,construction,andmore,helpeddiversifySouthKorea'sindustrialbase,suchasrefrigerators,washingmachines,andairconditioners.

IV Samsung's Influence on the Korean Economy1 Samsung'slossesafter14years

SamsungElectronicsrecentlyreportedsignificantlossesafter14years,whichhashadanimpactontheKoreaneconomy.Inthefirstquarter,thecompany'soperatingprofitdroppedto640.2billionwon,adecreaseof96%comparedto

Samsung'ssuccesshascontributedsignificantlytoGDPgrowth,jobcreation,andexportrevenues.Itsdiversebusinesssegments,includingelectronics,shipbuilding,construction,andmore,havebeeninstrumentalindrivingeconomicdevelopmentinSouthKorea.

2 KoreaneconomyafterthelossesofSamsung

ThatwouldbeSamsung'slowestprofitinanyquartersincea590billionwonprofitinthefirstquarterof2009,thecompany'sdatashowed.

"Withweaknessinglobaldemand,thedowncycleinchipsandelectronics,andChina'sgradualrecovery,SouthKoreanexportswillstruggleuntilthesecondhalfofthisyear,"DaveChia,associateeconomistatMoody'sAnalytics”

Thecentralbankexpectstheeconomytogrow1.6%in2023,slowingfromlastyear's2.6%expansion.V Conclusion.

ManyexpertsalsoadvisethattheKoreangovernmentshouldcreatefavorableconditionsforpromisingbusinessesindifferentfields.InordertoavoiddependenceonasinglecorporationManyexpertsalsoadvisethattheKoreangovernmentshouldcreatefavorableconditionsforpromisingbusinessesindifferentfields.Inordertoavoiddependenceonasinglecorporation

VI References