Political Map And SWOT Analysis Of South Korea

South Korea, also known as the Republic of Korea, is a nation in East Asia, being a part of the Korean Peninsula. The name Korea is derived or taken by Goryeo, a dynasty which held a prominent position in the middle Ages. The nation South Korea has borders with South Korea to the north, and with sea borders with China to the west and Japan to the east. South Korea lies in the north mild zone.

The capital and biggest city is Seoul, with a populace of 10 million. South Korea is a presidential republic comprising of 17 managerial divisions and is a created nation with the second most elevated way of life in Asia, having a HDI of 0. 909. It is Asia's fourth biggest economy and the world's fifteenth (ostensible) or twelfth, acquiring power equality, biggest economy. The economies is send out driven, with creation concentrating on hardware, vehicles, ships, apparatus, petrochemicals and apply autonomy. South Korea is an individual from the United Nations, Uniting for Consensus, G20, WTO, and OECD, and an establishing individual from APEC and the East Asia Summit. Korea has an approximately population of 51. 246 million in the year 2016 and is approximately thought to reach 52. 509 million by 2022. South Korea's real gross domestic product (GDP) was around KRW 1508265 billion in 2016 whereas the nominal GDP was KRW 1637420. 80 billion. This resulted in GDP deflator 108. 563. The result gap for South Korea in 2016 was negative at 1. 4% of the potential GDP. A nation's negative output gap reflects that actual economic output is below the economy's full potential. In 2016, South Korean government's revenue was KRW 361750. 90 billion in comparison to the expenditure, which was KRW 356197 billion. This concluded that the South Korean government's net lending / borrowing at KRW 5553. 90 billion in 2016 reflecting that enough financial resources were made available by the government to fasten the economic growth.

The current account balance for South Korea was approximately relected to be at USD 98. 677 billion for the year 2016 and is yet foreseen to decrease at a CAGR of 0. 22% and reach USD 104. 339 by 2022. Even if there is a small decline in the current account balance, South Korea will continue to be the net lender to the world, comprising of a variety of nations.

The economy of South Korea is one of the strongest economies in the Asian region. After coming out of the 1950-1953 war with North Korea, South Korea has emerged as one of strongest examples in terms of overcoming adversity and eventually growing up as a high innovation nation

SWOT analysis

A SWOT Analysis is carried out to bring out the weakness of any individual, firm or a nation. This analysis is an aid in eradicating or minimising such hindrances in the path of its growth. SWOT investigation is a system used to assess an organization's aggressive position by distinguishing its qualities, shortcomings, openings and dangers. SWOT investigation is an essential, scientific structure that surveys what an element — normally a business, however it tends to be a place, industry or item — can and can't do, for factors both inner and outer. Utilizing natural information to assess the situation of an organization, a SWOT investigation figures out what helps the firm in achieving its goals, and what deterrents it must survive or limit to accomplish wanted outcomes: where the association is today, and where it might go. Here, we will conduct a SWOT Analysis on South Korea and determine the various strengths, weakness, opportunities and threats through which South Korea can substantially rise in the present scenario.

Strength

South Korea has the following strengths:

1. Strong Work Ethic and Pace: South Koreans are known for their commitment towards work. Also, the pace reflects in the nation’s overall productivity.
2. Strong Demographic Institutions: The presence of varied demographics makes South Korea a strong nation.
3. Well Developed and diversified Economy: South Korea has 3rd highest economy in Asian region as well as 11th largest in World.

Weakness

1. Constant fear of Adequacy: There is always a fear in South Koreans to be adequate or satisfactory.
2. Relations with North Korea: The relation of South Korea with North Korea has always been on rocks. The bitter relations between the two have always been a threat of South Korea.
3. Export dependency: In context of exports, South Korea has to always depend on China.

Opportunities

1. Increased internationalization: Any new product/Service introduced in South Korea is adapted according to their norms and culture.
2. Demographic trends: There have been quite instances where people move, and restructuring thereby opening new opportunities for South Korea.
3. Free trade Agreements: In context of trades, South Korea have appeared as a potential market.

Threats

1. Political Crisis: Due to political crisis, there has been a constant threat to South Korea’s development and economic growth.
2. Nuclear threat: Due to tensions with North Korea, there is always a possible threat towards nuclear war.
3. Economic fear: Political Crisis and possible hindrances to growth of economy has led to an economic fear for North Korea. This sums up the SWOT Analysis of South Korea.