Business Environment & A ; International Business chance in SOUTH KOREA. And it ‘s comparing with INDIA.
History of the state Korea
Korea began its history with the initiation of Joseon i.e. the name Gojoseon which prevents the confusion with another Joseon dynasty which was founded in fourteenth century. Gojoseon expanded boulder clay it controlled much country or portion of the Northern Korean peninsula parts. After contending good figure of wars with the Chinese Han Dynasty, Gojoseon broke up into parts, taking to the Proto-Three Kingdoms of Korea period.
In the early centuries of the Common Era, Buyeo, Okjeo, Dongye, and the Samhan Confederacy occupied the peninsula. Of the assorted little provinces, Goguryeo, Baekje, and Silla growed up to command the peninsula as the Three Kingdoms. The fusion of the Three Kingdoms by Silla in 676 led to the North South States Period, in which much of the Korean peninsula was controlled by Unified Silla, whereas Balhae controlled the northern parts of Goguryeo. In Unified Silla, poesy and art were the thing which was encouraged. Relationships between Korea and China was significantly peaceable during that clip.
There was a Cold War between the Soviet Union and the United States whichwas the chief cause of separation of authoritiess, each with its ain political orientation, which leads to Korea ‘s division into two political entities in 1948: North Korea and South Korea. In the North, anti-Japanese guerilla and communist militant, Kim Il-sung gained power through Soviet support, and in the South, an exiled and rightist Korean political leader, Syngman Rhee, was selected as president.
South Korea occupies the southern part of the Korean Peninsula, which is spread up in to 680 stat mis from the Asiatic mainland. It is extended from the Yellow Sea to the West, and the East Sea in the E. On the southern terminal of Korea lies the Korea Strait and the East China Sea. The entire country of the state is 38,622.57square stat mis ( 100,032.00sq kilometer ) . Lowlands, located in the West and sou’-east and they cover merely the 30 % of the entire land country of south Korea. About three 1000 islands ehich are largely little and uninhabited, lie off on the western and southern seashores of South Korea.. Lowlands is the state ‘s largest island, They get an country of around 1,845 square kilometers ( 712 sq myocardial infarction ) . Jeju is the name South Korea ‘s highest point: Hallasan, is an nonextant vent, which reaches 1,950 metres ( 6,398ft ) above sea degree. The most eastern islands of South Korea include Ulleungdo and Liancourt Rocks ( Dokdo in Korean ) , while Marado and Socotra Rock are the southmost islands of South Korea. There are 20 national Parkss and some popular nature topographic points like Boseong Tea Field, Suncheon Bay Ecological Park in South Jeolla state in south Korea.
Teheran Street in the Gangnam territory of Seoul, known as Teheran Valley, is one of the most concern centered streets in South Korea.
There has been a important chage in the GDP of South Korea Which grew Dracastically from 1960 to 2007, in one million millions of US dollars. And the ground which Koreans gave for this rapid growing is the Miracle on the Han River.
And the universe 4th largest car manufacturer in footings of units sold.Hyundai Kia Automotive Group is besides present in south Korea
MS Allure of the Seas, is the South Korea universe ‘s largest shipwright the universe ‘s largest rider ship, built by South Korean ship building is from STX group.
South Korea is besides known as universe ‘s second-fastest turning economic system since 1960 to 1990.. and the major ground behind Korea ‘s transmutation into a developed economic system was due the Miracle on the Han River, and at that clip South Korea was started to be considered as one of the Four Asiatic Tigers. The low rewards paid to fabricate labor-intensive goods, who aimed at export was the ground for the growing of south Korea. South Korea being the member of the OCED, it was classified as a high income economic system by the World Bank and an advanced economic system by the IMF and CIA and a developed market by the FTSE Group.
In 2009, South Korea was ranked as the most advanced state among the other states in the universe and among major economic systems by the BCG and NAM.
South Korea is the universe ‘s largest shipwright, and one of the universe ‘s top fith car fabrication states. South Korea is besides dominant in rough oil imports, refined oil exports, and the edifice building industry.
Its capital, Seoul, is among the universe ‘s top 10 fiscal and commercial metropoliss as declared by Forbes and MasterCard.
South Korea is ranked the universe ‘s largest shaper of LCD, Plasma show, and CRT shows, led by LG Display and Samsung SDI.
In consumer electronics, South Korea is the universe ‘s largest LCD, OLED, CRT and plasma show shaper. The South Korean companies Samsung and LG is ranked among the top three makers of telecastings and nomadic phones.
South Korea has a hi-tech substructure, with the universe ‘s highest broadband cyberspace entree per capita, and the fastest mean Internet connexions.
South Korea besides exports radioactive isotope production equipment for medical and industrial usage to states such as Russia, Japan and Turkey.
The authorities is besides puting in the robotics industry. There are besides developing programs to develop other sectors, including fiscal services, biotechnology and aerospace industries.
South Korea was the first state to get down Digital Multimedia Broadcasting in 2005 and wireless broadband Internet in 2006 and nation-wide 100 Mbit/s fiber-optic broadband web, which is being upgraded to 1 Gbit/s by 2013.
South Korea ‘s current economic mentality
With the focal point of the latest downward alterations to the Economist Intelligence Unit ‘s and the economic growing prognosiss by US, they now expect that GDP growing in South Korea is to decelerate to 4.4 % in 2008. In 2007 the state was a prima driver in growing was exports of goods and services. They expect export growing to slow from 11.8 % in 2007 to 7.5 % in 2008, before bettering somewhat. In 2009, to 7.8 % , as there will be betterment in external demand. Domestic demand growing is forecast to slow off in 2008 and to retrieve partly in 2009. Real GDP growing of the state will stay at 4.4 % In 2009, the domestic demand of the state will suck in imports, ensuing in a diminution in the net part of the external balance to GDP growing.
South Korea ‘s current Inflation Situation
There is uninterrupted rise in rising prices in South Korea in December 2007, speed uping to 3.6 % twelvemonth on twelvemonth, up from 3.5 % in November. The chief grounds for the addition of rising prices since mid-2007 have been lifting oil monetary values combined with robust consumer demand. Consumer monetary value rising prices in South Korea has exceeded the upper bound of the cardinal bank ‘s medium-term mark scope for headline one-year rising prices of 2.5-3.5 % , and is now at its highest rate since October 2004. Nevertheless, the good intelligence is that the nucleus rising prices, which strips out nutrient and energy monetary values, remained low at 2.4 % in December. Concerns about the belongings monetary value rising prices witnessed in 2006 have receded as marks of modest house-price corrections appeared in 2007.
Economic facts in relation with South Korea
* GDP in footings of ( buying power para ) : $ 1.206 trillion
* GDP in footings of ( official exchange rate ) : $ 981.9 billion
* GDP – composed from agribusiness sector: 3.2 % industry: 39.6 % services: 57.2 %
* Labour force: 23.99 million ( 2007 est. )
* Labour force – engaged in agribusiness: 7.5 % industry: 17.3 % services: 75.2 %
* Unemployment rate: 3.2 %
* Agriculture – merchandises produced by the state: rice, root harvests, barley, veggies, fruit ; cowss, hogs, poulets, milk, eggs ; angle
* Major Industries for south Korea: electronics, telecommunications, car production, chemicals, ship building, steel
* Oil: – imports 2.41 million bbl/day
* Major Exports – trade goods: semiconducting materials, radio telecommunications equipment, motor vehicles, computing machines, steel, ships, petrochemicals
* Main Exports – spouses: China 22 % , US 12.5 % , Japan 7.1 % , Hong Kong 5 % ( 2007 )
* Major Imports – trade goods: machinery, electronics and electronic equipment, oil, steel, conveyance equipment, organic chemicals, plastics
* Main Imports – spouses: China 17.7 % , Japan 16 % , US 10.7 % , Saudi Arabia 5.9 % , UAE 4.2 % ( 2006 )
South Korea concern environment stands 19th in the universe
South Korea ‘s concern environment ranked 19th in the universe as comparison to other states, bettering four notches on twelvemonth, chiefly due to come on in concern gap and cross-the-board trading environment. Harmonizing to an one-year study compiled by the World Bank, South Korea achieved the 19th topographic point out of 183 states in concern environment, up four stairss from a twelvemonth ago. The latest ranking is the highest for South Korea since 2003 when the World Bank started to print related informations. The World Bank study, based on 10 business-related indices, attributed Seoul ‘s rise to betterments in the environment and ordinances related to concern gaps and cross-the-board trading, which jumped to 53rd and 8th from 126th and 12th topographic point, severally.
CULTURE AND BUSINESS ENVIRONMENT IN INDIA
India is a huge state known for its diversified civilization and traditions. India is a peninsular surrounded by H2O on three sides viz. the Indian ocean, Bay of Bengal and Arabian sea. On the north it bears the universe ‘s highest mountain The Himalayas. Its neighbouring states are Pakistan, Bangladesh, China, Tibet and Sri Lanka. India attained its freedom in 1947 and now it is a universe ‘s largest democratic state. India has approximately 26 provinces and 7 brotherhood districts. The alone feature of India is its “Unity in Diversity” although there are many civilizations and faiths and linguistic communications. As I have resident from Chennai at South of India, I would wish to lucubrate its civilization and concern environment.
CULTURE AND BUSINESS ENVIRONMENT IN INDIA
India is a huge state known for its diversified civilization and traditions. India is a peninsular surrounded by H2O on three sides viz. the Indian ocean. On the north it bears the universe ‘s highest mountain The Himalayas. Its neighbouring states are Pakistan, Bangladesh, China, Tibet and Sri Lanka. India attained its freedom in 1947 and now it is a universe ‘s largest democratic state. India has approximately 26 provinces and 7 brotherhood districts. The alone feature of India is its “ Unity in Diversity ” although there are many civilizations and faiths and linguistic communications. As I have resident from Chennai at South of India, I would wish to lucubrate its civilization and concern environment.
Culture and concern environment
The chief provinces lies in the southern portion of India and they are Tamil Nadu, Kerala, Maharashtra, Andhra Pradesh and Karnataka. The chief metropoliss of important value are Madras, Cochin, Bangalore, Hyderabad, Bombay and Coimbatore. These metropoliss are of important importance in each facets.
Tamil nadu: ( CHENNAI )
Tamil nadus now called as Chennai which is popularly known as the “ Gateway to the South ” .
The civilization of Chennai is wholly different from that of northern India. Music, dance and all other art signifiers of the South are cherished and nurtured in this metropolis which, though industrialized, continues to be traditional and conventional in many ways. Chennai is a the most gracious metropolis that has got a clear skyline, longest sandy beaches, Parkss, historic landmarks and most of import it has got the beautiful tourer substructure installations which make it a convenient entry point or base to get down a circuit of Tamil Nadu and South India. The universe central office of the Theosophical Society, formed to ease and promote the survey of comparative faith. Chennai, the gracious capital metropolis of Tamil Nadu is the 4th largest city in India. It is located on a 17km stretch of the Coramandel seashore has got a population of 6 million people, Chennai is a vivacious metropolis of all time turning, spread outing and altering every twelvemonth. Chennai is now a upcoming concern Centre and one can happen all sort of concern around here. Chennai is ever known for its cars industries ( Ex. ) Hyundai, Ford, TVS etc. There are many tourist topographic points one can bask seeing they are Birla planetorium, State Museum, Zoological park, Bird sanctuary and more. World celebrated establishments like Indian Institute of Technology, Anna University is here.
Cochin, regarded as the Queen of the Arabian Sea, is situated in the southern west corner of India is a beautiful metropolis and it ‘s the commercial capital of Kerala. Estimated to keep about 15 million people ( a nose count is on in the old ages 2000-2001 ) , the metropolis has grown dramatically in the last 50 old ages. The nucleus country called the “ Island City ” has the most expensive existent estate in all of India. A premier tourer finish of Kerala, Cochin is celebrated for its extensively emerald backwaters lined with thenar trees and local small towns which represent the absorbing life style of dwellers who still used these class ways as their manner of transit. It is a topographic point with the popular historical topographic points, castles, garrisons, old churches, beaches, backwaters, snake boats races, Kathakali, museums and the convenience of a large metropolis with looming edifices and concern Centres. Cochin is besides celebrated for export of piscaries, spices, coconuts, cardamons, tea, and gum elastic.
Hyderabad, the 5th largest metropolitan of India, it is the province capital of Andhra Pradesh, celebrated for its rich history and civilization with memorials, mosques, temples, a rich and varied heritage in humanistic disciplines, trades and music. For two hundred old ages, it was the capital of a Muslim dynasty that ruled over a public that was preponderantly Hindu. This fact gave rise to a funny composite civilization, which was hailed by many. Gradually this demographic displacement was to alter the character of the metropolis wholly. Now Hyderabad is a metropolis of important importance. Visakapattinam in Andhra Pradesh is besides a good metropolis holding one of the biggest seaport of India transporting out big exports and imports. Hyderabad is besides celebrated for pearls and pearl jewelry. Tourist topographic points like Birla Temple, Charminar, Golconda garrison, Salnejung museum are found here.
Bangalore, is the capital of Karnataka, is called the Garden City for it ‘s delicate flowers and verdure that impart a alone beauty to this lovely metropolis. The conditions is the metropolis ‘s best characteristic, with pleasant summers and endurable winters. Bangalore is besides known as the widely distributed metropolis, where different civilizations and imposts exist. The serene, beautiful province of Karnataka extends a complete contrast to its bustling metropoliss. It offers more than a ageless vacation for – the woolgatherers, the painters, the creative person, the trekkers, the vacationists and more. It brings you close to nature and yourself. Karnataka has it ‘s celebrated temple sites like Belur, Halebid, Aihole, Badami and Hampi. These temples have been extremely acclaimed by infinite tourers, historiographers, archeologists and art lovers, for the architectural admirations they are. More tourist topographic points like Jog falls, Nandhi hills are found here. Bangalore is universe celebrated for its package concern. It offers a big figure of package occupations and gets many foreign contracts. One of the best Institutions called the Indian Institute of Management and Indian Institute of Science are here.
Mumbai: ( MUMBAI )
Bombay now called as Mumbai is the capital metropolis of Maharashtra. Today it ‘s a teeming city, commercial hub of an old civilisation seeking to happen its topographic point in the New World Order.this metropolis contributes about 40 per centum of India ‘s revenue enhancements come entirely, and half of India ‘s international trade base on ballss through its glorious natural seaport. In fact Mumbai is the really psyche of human endeavor. At the metropolis ‘s Stock Exchange, millionaires and paupers are made nightlong, and the pavements are crowded with sellers peddling everything from ballpen pens to 2nd manus mixies. Everyday, more than half of Mumbai ‘s population commutes from widespread suburbs to downtown offices, Bankss, mills and Millss for a life. About 13 million people live here – affluent industrialists, brassy movie stars, internationally acclaimed creative persons, workers, instructors and clerks live here. The good known topographic points of touristry are Chowpathy beach, Juhu beach, Elephanta caves, good markets like Crawford and chor bazar are found here. Other topographic points like Flora fountain, Bombay natural history museum, Hanging gardens, Gateway of India are good topographic points of touristry.
The Relations between Korea and India:
Trade Volumes in 2003:
Korea exported $ 2.9 billion worth of ware to India and imported $ 1.2 billion, posting a excess of $ 1.7 billion.
* Trade volumes: $ 2.1 billion ( 1999 ) ; $ 2.3 billion ( 2000 ) ; $ 2.5 billion ( 2001 ) ; $ 2.6 billion
* ( 2002 ) ; $ 4.2 billion ( 2003 ) .
* Korea was the ninth-largest trading spouse for India, which in bend was the 19th
* largest spouse for Korea in 2003.
* Among Korea ‘s trading spouses, India was the 13th largest buyer of Korean ware and the 27th-largest exporter to Korea in 2003.
Investing Levels ( aggregate as of December 2003 )
As of December 2003, some 170 Korean companies are making concern in India, with investings making $ 2.6 billion, the fifth largest sum after investings by the United States, Mauritius, Britain and Japan.
Former Indian Prime Minister Narasimha Rao visited Korea in September 1993.
Former Korean President Kim Young-sam paid a visit to India in February 1996.
Number of Korean occupants in India. A sum of 2,652 Koreans ( as of January 1, 2004 ) , including authorities functionaries, state-run endeavor employees, concern representatives, freelance persons, and pupils, are shacking in locations like Delhi, Chennai, Mumbai, Bangalore, Pune, and Calcutta and others.
People-to-People Exchange ( 2003 )
Korean visitants to India: 15,437 ( 2000 ) ; 18,186 ( 2001 ) ; 19,461 ( 2002 ) ; 26,202 ( 2003 ) .
Indian travellers to Korea: 27,392 ( 2000 ) ; 24,201 ( 2001 ) ; 29,138 ( 2002 ) ; 27,440 ( 2003 ) .
Relationss with North Korea
India maintains diplomatic dealingss with both Koreas at the same time.
* The incumbent North Korean embassador to India, Moon Seong-mo, has presented
* certificates to the current Indian authorities in May 2004.
* No premier minister-level Indian leader has of all time visited North Korea.
* Based on its “Look East” policy and matter-of-fact line of diplomatic negotiations, India topographic points
* greater diplomatic precedence on its relationship with South Korea than with North Korea.
* India-North Korea trade volumes ( 2002 and 2003 )
* *Indian exports to North Korea: $ 183 million
* *Indian imports from North Korea: $ 4.7 million
Trade through the Silk Road
Significant exchanges have besides taken topographic point through the Silk Road during the fifth and 6th centuries, particularly in humanistic disciplines, architecture engineering, costumes, and musical accomplishments and instruments, therefore making a alone “Silk Road culture.”
Luxury goods owned by the blue bloods of Korean Silla Kingdom ( 57 BC-A.D. 935 ) , such as wool merchandises, incense ( spices ) , glass decorations, Inachis io plumes, silk merchandises, and jewellery, were funneled into Korea from Southwest Asia through India and the Silk Road. So, Koreans at the clip endeared India as a Utopia, full of rare gems, decorations and other luxury merchandises.
In 2003, Korea posted $ 2.85 billion in exports to India, an addition of 106.1 per centum from the old twelvemonth, while entering $ 1.23 billion in imports, a decrease of 1.3 per centum, besides from 2002. For the first clip, the two states ‘ entire trade volume hovered above $ 4 billion, a important addition from their $ 2.1-2.6 billion degree in 1999.
– The $ 4-billion trade volume in 2003 marked an addition of 55.2 per centum from 2002, when the sum of trade stood at $ 2.63 billion.
Trade partnership ( 2003 )
* India was Korea ‘s 13th-largest export market and 27th-largest beginning of import.
* Korean trade with India takes up 1.1 per centum of Korea ‘s entire trade activities with foreign merchandising spouses ; exportation and importing to and from India consisting 1.5 per centum and 0.7 per centum, severally, of Korea ‘s entire import and export.
* Major export points: nomadic communicating equipment, car parts, vessel/maritime rescue-operation equipment and parts, aeroplanes and parts, and sheet metal.
* Major import points: crude oil merchandises, natural fibre narrations, flora, Fe ore and other ferric minerals.
* Korea was India ‘s 22nd-largest export and 9th-largest import market.
* Korea and India purpose at spread outing their bilateral trade to a $ 10 billion-a-year degree within five old ages under an understanding reached at a 2nd Korea-Indian foreign curates ‘ commission meeting, held in December 2003.
Areas for concern development in Korea
* Samsung and LG Electronics are basking a combined market portion of 30 per centum in India ; they plan to farther spread out the market portion, up to 40 per centum, in the close hereafter.
* The popularity of Korean merchandises in India has been so high that Indians are reportedly Nhoping to “turn on an LG air-conditioner at dark, pick up a Samsung cell phone on the manner to work, and thrust to workplace on a Hyundai automobile.”
* Electronic goods made by LG and Samsung have become the favourites of Indian bridesto- be.
Hyundai and Kia Motors together sold 500,000 cars in India between 1996 and 2003. During 2004, the car manufacturers hope to spread out their current production capacity from 150,000 to 250,000 cars a twelvemonth. Currently, their joint market portion of 20 percent ranks second among car manufacturers in India.
Samsung Group, in a pool with local Indian companies, is take parting in Indian metro building undertakings ; Hyundai Heavy Industries has besides taken portion in major road-repair undertakings in India.
Information Technology ( IT )
Samsung Electronics opened a digital Television research institute in India in July 2003.
Dongbu Information, a Korean IT company, has teamed up with Satium, the largest IT Corporation of India, for IT-related, joint outsourcing undertakings.
Cooperation between Economic Organizations. The Federation of Korean Industries ( FKI ) and the Confederation of Indian Industry
( CII ) held a “Korea-India Economic Summit” conference in December 2003, holding to spread out bilateral Korean-Indian economic cooperation into the countries of electronic, car, building, substructure, information engineering ( IT ) and BT engineering.
Comparison between India and south Korea on Country Risk Tier ( CRT ) footing:
Fiscal System Hazard
* The Country Risk Tier ( CRT ) reflects A.M. Best ‘s appraisal of three classs of hazard: Economic, Political and Financial System Risk.
* India, a CRT-4 state, has great economic potency due to its big labour force. Growth has been strong, averaging about 9 % over the five old ages to 2008. But, mostly due to diminutions in investing and domestic demand, growing has decelerated and will be less than 6 % in 2009/10.
* Poverty decrease in India is to a great extent reliant upon high degrees of economic growing, which is likely to return in 2010/11.
Economic Hazard: Moderate
• India, with a monolithic population transcending one billion, is place to the universe ‘s 12th largest economic system as measured by gross domestic merchandise ( GDP ) .
• India ‘s information engineering sector and concern services sector have been drivers of growing as the authorities has supported development with betterments in substructure and ordinance.
• GDP growing has been financed mostly by private economy and foreign capital influxs. The degree of economic growing in 2009 will worsen significantly due to planetary economic conditions but a recoil is expected in 2010. Therefore, the long term growing tendency will go on to be above 7 % .
• A noteworthy point of failing for the Indian economic system is the worsening authorities budget balance. The shortage will probably make -7.0 % of GDP in 2008/09.
Political Hazard: High
• Income disparity in India is important, as about one tierce of the population lives in poorness.
• National security has become a focal point in India as some of the major metropoliss have been the scene of terrorist bombardments.
• The bilateral relationship with Pakistan is strained, and receives world-wide attending. Attempts in recent old ages to do reparations have been interrupted repeatedly by Acts of the Apostless of force.
Fiscal System Hazard: Moderate
• The insurance industry is regulated by the Insurance Regulatory and Development Authority ( IRDA ) .
• The Indian authorities is working to aline its regulative and accounting criterions with international best patterns.
• The Indian fiscal system has fared comparatively good during the planetary fiscal crisis.
• The Country Risk Tier ( CRT ) reflects A.M. Best ‘s appraisal of three classs of hazard: Economic, Political and Financial System Risk.
• South Korea, a CRT-2 state, has a developed an unfastened economic system that has low economic, political and fiscal system hazard.
• Nevertheless, the openness of the Korean economic system contributes to it being capable to planetary economic fluctuations. Therefore, due to the planetary fiscal crisis, plus values plummeted and export markets stagnated. The consequence was a really crisp contraction in the 4th one-fourth of 2008. On an one-year footing, gross domestic merchandise ( GDP ) growing declined from 5.1 % in 2007 to 2.2 % in 2008 to negative growing in 2009.
Economic Hazard: Low
• South Korea is a stable and flush state with high gross domestic merchandise ( GDP ) per capita of USD 20,015.
• South Korea has favourable footings of trade as it produces and exports high terminal electronic and, telecommunication merchandises ; every bit good as cars. Though South Korea usually maintains current history excess, its balance fell into shortage in 2008 mostly due to increased oil monetary values and followed by a impermanent stagnancy in demand for Korean exports.
• Growth will worsen in 2009 but expected to bounce in 2010. However, if export markets do non retrieve during the following twelvemonth, so the Korean domestic recovery may be protracted.
Political Hazard: Low
• South Korea has a stable authorities with sustainable democracy and a healthy substructure. There is stillsome demand for deregulating to better efficiency.
• The labour market is slightly inflexible which can be burdensome for private companies.
• The relationship between North Korea and South Korea is strained and is a beginning of political and societal contention.
Fiscal System Hazard: Low
• The insurance sector is regulated by the Insurance Division of the Financial Supervisory Commission ( FSC ) .
• Korea has an effectual legal model and has enacted or is working towards ordaining international best patterns in ordinance and coverage criterions.
• Though the Korean economic system was impacted greatly by deteriorating planetary fiscal conditions, it is expected that the domestic fiscal system is well-positioned to defy the downswing.
South Korea is recognised as an high tech industry. And it is universe largest shaper of LCD, plasma show. It ‘s foreign relation is a spot diplomatic. It ‘s holding good relation with China, Japan, U.S.A & A ; North Korea. It ‘s Business Environment ranked 19th in the universe and it ‘s country of concern is electronics, cars, building and information engineering.
Analyzing the state hazard grade of South Korea and India we see that assorted hazard in South Korea like economic, political and fiscal the hazard there is relatively low as compared to India. South Korea has more of stable authorities as compared to India. It ‘s even an flush state with high GDP. India, a CRT-4 state, has great economic potency due to its big labour force. Growth has been strong, averaging about 9 % over the five old ages to 2008. But, mostly due to diminutions in investing and domestic demand, growing has decelerated and will be less than 6 % in 2009/10.
South Korea, a CRT-2 state, has a developed an unfastened economic system that has low economic, political and fiscal system hazard.
· www.korea.net/news/issue/attach/PDF % 20Format
· hypertext transfer protocol: //www.uktradeinvest.gov.uk/ukti/south_korea