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The South Korean economy is likely to witness significant growth over the next five years and reach an estimated $1.72 trillion by 2018 at the current price.
Lucintel, a leading global Management Consulting and market research firm, performed a Political, Economic, Sociological, Technological, Legal, and Environmental (PESTLE) analysis of South Korea and presents its findings in “PESTLE Analysis of South Korea 2013.” South Korea is characterized by a stable economy. Increased FDI inflows and a strong domestic demand have cushioned the economy even during the crisis period. For exports and imports, South Korea is much dependent on countries such as the Japan, China, the US, Hong Kong, Singapore, and Vietnam. Any decline in these economies can hinder South Korea’s economic growth.
According to the research, South Korea is among the most growing economies with its own strengths and weaknesses. The country’s major strengths will be derived from its next phase of sustainable development. The strengths include huge domestic demand, investment policy, and price competitive in terms of labor, high R&D expenditure, good business environment, and high foreign exchange reserve. At the same time, South Korea will be required to address a number of significant challenges and risks such as trade union movement and fluctuating currency. South Korea has scope for development by strengthening innovation, creativity, and proper utilization of its human potential.
Lucintel’s report indicates investment opportunities in green technology, hi-tech industry, and fuel-efficient automobiles. Higher spending on R&D activities creates investment opportunities in sectors such as automobiles, auto parts, and semiconductors. Increasing per capita income and urbanization may lead to huge business opportunities in food, real estate, and retail industry. But the possibility of war and escalating tensions with North Korea reduce investors’ confidence in investments in South Korea.
The report studies the political, economic, sociological, technological, legal, and environmental analysis of South Korea. The report also covers South Korea SWOT analysis and recent economic policy analysis.
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