[경제원론] 영문 리포트

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목차

Letter of transmittal
List of Illustration
Abstract
Introduction
Korean Economic Crisis
The reasons for Korean economic crisis
The result of Korean economic crisis
The relation in business between Australia and Korea
Australia’s export to Korea
Korea’s exports to Australia
Conclusion
Recommendations
Works Cited

본문내용

Abstract

The reasons for Korean economic crisis
First, Korea has established a ‘cozy relationship’ between the government including politics and economics since the truce of the Korean War. The economy developed rapidly but the companies sold their integrity to politics.
second, the failure of the government policy for the Korean economy was one of the main reasonsThe government of Kim, Young-Sam joined the OECD in 1996. When the government was about to join the OECD, many professors and economic exports advised that it was too early to join the OECD because Korea had fundamental economic problems and other problem such as ‘cozy relationship’.

The result of Korean economic crisis
First of all, the most significant effect of the Korean economic crisis was that many workers had to be sacked from their companies. It is because that if the workers were not lay-off, companies had to collapse and no foreign investment flew in the Korean market. In additional, real wages fell sharply in every workplace and consumer prices were pushed upwards by the depreciation of Korean Won.

Australia’s export to Korea
The Korean crisis severely affected Australian manufactured exports. Dae-Woo Motor, which is second largest car company in Korea, imported car engines form Holden in Melbourne. Car engines and parts including elaborately transformed manufactured valued at A$825 million exported to Korea form Holden and other companies in Australia in 1997, but it dropped dramatically to A$459 million in 1998 (Korea Rebuilds, 1999). It is because that after the crisis, the domestic market of Korea for cars slumped dramatically.

Korea’s exports to Australia
Traditionally, the main export merchandise of Korea was textile including clothing and footwear. However, since 1987, wages were increased rapidly thus Korea lost international markets, principally China. As a result, Korean companies changed export products form textile to high-tech industry. According to Korea Rebuilds (1999), among the imported products from Korea in 1998, 20 % were passenger motor vehicles and 12% were computer and telecommunications, but 6% of Korea’s exports to Australia were textile.

참고 자료

비지니스 커뮤니케이션
지은이 : 양창삼
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