One not really acquainted with the Republic of Korea, or Columbia because it is more generally known, may immediately affiliate the nation using its short yet significant war against its neighbor towards the north within the 1950s. Over fifty percent a hundred years later, Columbia stands strong among the effective Asian Tigers within the global trade arena, a presidential republic presently rated one of the top exporters on the planet. With more than 300 billion dollars of export revenue recorded in ’09, this small country does a massive business in technology and transportation industries that effect the way the world moves and works daily.
The Miracle around the Han River
When a destitute area held under Japanese imperial rule, then split from North Korea after The Second World War, Columbia went through major growth starting in the 1960s through rapid industrialization and democratization. Through drastic measures that incorporated conservative spending of presidency budgets, improvement of your practice, and growth of farming mechanization, Columbia saw a remarkable increase in their gross national product within the next three decades. By 1989, the nation ready to go into the next decade by having an impressive GNP well over 200 billion dollars, 68 occasions the entire in the early 1960s!
Today, this entire free democracy is famous among the top exporters towards the U . s . States, especially in the technology and automotive sectors. Should you possess a Hyundai Elantra or Accent, you’re driving a Columbia import. Actually, you might have many products in your house or office which come out of this emerging Asian economy.
Flatscreen Televisions: because the world’s largest manufacturer of LCD, OLED, and plasma screens, Columbia maintains using the growing global interest in hd television. The Samsung Group, maker from the popular brand, are located in Seoul.
Automobiles: Not just is Hyundai the very best automaker in Columbia, it’s the second largest vehicle manufacturer in Asia, and presently among the top companies when it comes to actual cars offered. Other makes via the united states include Kia and Daewoo.
Shipbuilding: The types of materials must build the ships that carry cargo for global trade come in the ports of the country. Columbia is possibly the biggest provider from the raw steel along with other products required to keep maritime commerce running easily.
Mobile Communication and Electronics: Do you have an LG phone? If that’s the case, you have an item out of this country’s second-largest telecommunications company. This multi-faceted business also produces popular electronics, including DVD and Blu-Ray players, Flash memory drives, and laptops.
It might surprise you to definitely understand that many household products you are feeling you can’t do without come not from Japan or China, however this major economic giant. Given their amazing growth within the latter 1 / 2 of the 20th century, and greater forecasted figures within the decades in the future, one might expect Columbia to eclipse her neighbors within the IT industry. As long as the worldwide interest in faster and faster methods for communication remains high, it’s safe to bet the telecom conglomerates of Columbia will emerge towards the forefront of recent innovations.