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South Korea Country Risk Analysis
Finance & Accounting
Pages 7 (1757 words)
Country Risk Analysis – South Korea SUMMARY South Korea, the Republic of Korea, is a presidential republic, a developed country with high standard of living. To evaluate whether the nation is conducive to foreign investments, political and economic risk assessment becomes essential.
South Korea is politically stable and has excellent infrastructure. With consistent reformation policies, the Government has been able to transform the country into a knowledge-based service-oriented economy. The labor market is flexible but the wages are higher than the neighboring countries. The workforce is highly qualified but the country has an aging population as the population growth rate is extremely low. Unemployment rate in the country is very low. Having a culture of uncertainty avoidance, risk assessments would be done and precautions and risk measures adopted. Being a collectivist society, loyalty is given importance. Economically too, the country is sound with low inflation rate, and the currency resilient to shocks. South Korea is an open economy ranking among the top 20 economies in the world. The private sector can operate freely without Government interference. The two major concerns are the aging population and corruption prevalent in the country. However, with the right business partner and sound knowledge of the economy, would help foreign businesses achieve the desired objective. Introduction South Korea, the Republic of Korea, is a presidential republic, a developed country with high standard of living. Having its origin in the World War II, South Korea is a fully functional modern democracy. ...
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