Monday, October 18, 2010

Korean economy

We have learnt that the Asian Tigers includes 4 countries which are South Korea, Hong Kong, Singapore and Japan. When the western development come to an end, these countries began to rise in which Japan's economy was leading. South Korea is also one of those well known Asian Tiger to have large home-grown companies known as CHAEBOLS. Chaebols are very powerful and awesome as they are found in many aspects of the Korean economy. It allows the Korean to be loyal to the country. The Koreans are creative to think of this and enables the country to work together better and to boost as well as improve the economy. Example of the important industries are such as telecommunications, trade, shipping, energy, banking, food, shopping and steel. Chaebols were used by the government to help Koreans fell a sense of pride and loyalty to the country, which is known as Nationalism. It helps to make a strong identification of the local people. This also helps the Koreans to feel sense of belonging to the country. It is also believed that the state is of upmost importance, or one state is much better than the other. (:

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