Chapter 14
∗ South Korea, officially the Republic of Korea (ROK), is a developed country in East Asia and classified as a high-income economy by the World Bank, an advanced economy by the IMF and CIA. The South Korean economy is led by large conglomerates known as Chaebol. These include global multinational brands such as Samsung, LG and Hyundai-Kia. Samsung and LG are among the top three manufacturers of televisions and mobile phones. Samsung is currently the world’s most valued consumer electronics brand.Its capital, Seoul, is consistently placed among the world’s top ten financial and commercial cities and was named the world’s sixth most economically powerful city by Forbes with a GDP per capita of $32,171 in 2008. Almost half of South ...
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