Korea as global trading power
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South
Korea is expected have over $1 trillion exports and imports this year becoming
ninth country to do that. Korea changed from developing nation to developed
nation between 1970 and 1990, overcame Asian market crisis in 1990s, and become
OECD member. The President Park Chung-hee's firm leadership and encouragement
to big corporations paved way to big conglomerates to take control of business
sector. As a result, Korean brands, such as Hyundai and Samsung, are well known
around the world. But, many small and medium-sized enterprises (SMEs) had been
swallowed and pushed by the big ones. SMEs have big advantages to conglomerates
and the government need fix this to further development of country (or $2
trillion in foreign trade a year)
