South Korea Economy

By Anonymous

 

Economic Background

   Before the Korean War in 1950-1953 South Korean economy heavily depended on agriculture but after the war industrial production like manufacturing grew rapidly. Communication, government, trade, and transportation became important making South Korea one of the largest economies. About 2/3 of south Korea's employments comes from service industries and industrial activities count for about 1/4 of south Korea employment. Most of the South Korean industry is privately owned.

Coronavirus Impact on Economy 

When it comes to covid-19 and how it affected South Korea there is little to no information. Compared to other countries South Korea handled the virus quite well. The residents who live there have the app installed into their phone so the government knows if their quarantining right, if they fail to do so they are given a fine which is quite a lot. Relating to the economy pretty sure some people's jobs were put on hold or slowed down. "Choi says, South Korea's government has to strike a balance between public health and economy."



Citations

Armstrong, Charles K., and Eugene Y. Park. "Korea, South." World Book Student, World Book, 2020,
www.worldbookonline.com/student/article?id=ar751408. Accessed 4 Nov. 2020.


"New Coronavirus Cases Are On The Rise In South Korea." Morning Edition, 20 Aug. 2020. Gale OneFile: High School Edition, https://link.gale.com/apps/doc/A633432945/STOM?u=tel_s_tsla&sid=STOM&xid=b4adfc36. Accessed 4 Nov. 2020.



















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