The globalization of economy of South Korea

Relationship between economics and globalization

- The globalization of economy of South Korea

     The economy of Korea Rep. started to globalize itself throughout the 1960s, because of the lack of technology and the insufficiency of resources. Korea had to fulfill its resources through importation, but the money for the importation was not enough, thus, the structure of the economy of Korea automatically  designed to ‘earning dollar-based exportation’. The result of this economy program was not that bad and Korea right now is one of the most important economical nations. The ‘globalization-based economy’ brought the success to Korea. Countries like before South Korea - countries with lack of resources - tries to follow what it had walked through and to those countries, no words are necessary in the point of the importance of the globalization of economy. However, this kind of economic type, high dependency economy, makes huge problem when the world economy trembles. Almost every economic necessities will get harmed throughout the entire country, such as oil, steel, gas and more. 

     Consequently, the globalization of economy is not an option because of the lack of resources, the limitation of capital and so on. Economics and globalization is an one-set term, not a separate concept.