South Korea Affected by Globalization Essay Example | Topics and Well Written Essays - 1750 words

South Korea Affected by Globalization - Essay Example Apart from these concerns there are also concerns over causing of widespread suffering, disorder and unrest. Globalization can be remarked as a medium which becomes the main source for global movements of social justice and also a source of repression. By governing these materials we can take a glance at the features of globalization, as to how the process drives, how politics can be changed and how it changes or affects institutions like the UN. Globalization has helped improve the poverty in a large number of developing countries but still it needs to bind to help the society's poor community. Mainly we can say that as globalization covers all the cons and pros of the human society, and virtually every aspect we need to analyze and think, about the questions such as normative political theory. (Globalization, 1, n.d) Recently it can be said that the economy of South Korea is one of the strongest economies of the world. It can be ranked as the thirteenth largest economy of the world because it is highly developed trillion dollar economy. Among the economies of Asia the economy of South Korea can be termed as the fourth largest economy. ... South Korea turned in to a highly developed country just in 50 years and it is not less than a miracle. World Bank has termed the economy of South Korea as the High income economy and IMF has termed it as advanced economy. The economy of South Korea is known as the Asian Tiger in the economy of Asian countries because of its rapidly growing status. The capital of South Korea is Seoul and it is considered to be a big global city and also the major international financial center in Asia. Because of high income and good financial and economical status the living standard and life style of South Koreans is quite high and they enjoy the freedom of financial usages. The South Korea has developed so much rapidly because of the rapidly increasing process of industrialization in the South Korea which has placed the country among the top exporters and most of the export process is performed with China. The main industries of South Korea include chemicals, steel, textile, footwear, food process ing, electronics and automobiles. The unemployment rate has also been recorded as low as 3.2% in the year 2007. The level of education of the country is also very much improved and competitive. The scientific literacy of South Korea is on the top and the mathematical literacy is ranked as second highest. According to the economists the information technology industry of the South Korea has also among the three top IT industries. Hence all this above analysis shows that the economy of South Korea has geared itself from the year 1960s till 2007. The GDP rate that was recorded in the year 2007 was GDP (Nominal) $981.9 Billion and GDP (PPP) $1.312trillion. Although the economy has faced a really tremendous rise but the financial