We are very happy to be associated with ACREX India,
2008, as a Partner Country for this Mega Event in India
.
Since the 1960s, South Korea has achieved an incredible
record of growth and integration into the high-tech
modern world economy. Four decades ago, GDP per capita
was comparable with levels IN in the poorer countries
of Africa and Asia . In 2004, South Korea joined the
trillion dollar club of world economies.
Korea 's development model, including high debt/equity
ratios, massive foreign borrowing, and an undisciplined
financial sector. GDP plunged by 6.9% in 1998, then recovered
by 9.5% in 1999 and 8.5% in 2000. Growth fell back to
3.3% in 2001 because of the slowing global economy, falling
exports, and the perception that much-needed corporate
and financial reforms had stalled. Led by consumer spending
and exports, growth in 2002 was an impressive 7%, despite
anemic global growth. Between 2003 and 2006, growth moderated
to about 4-5%. A downturn in consumer spending was offset
by rapid export growth. Moderate inflation, low unemployment,
an export surplus, and fairly equal distribution of income
characterize this solid economy. |
