1/20 Korea’s Economy

Talk about the Korean economy.

Korea's economy has grown rapidly over the years. Back in the day, the economy was small in size. But now, it is one of the top 10 economies in the world. Korea is an export-driven economy. Many Korean companies are global companies. They sell their goods and services overseas. Because of this, the economy depends on the global market. If the global economy is good, Korea's economy is good as well. Now, Korea is moving toward a knowledge-based economy. It is investing a lot in future businesses such as software. Overall, the future of Korea's economy is very bright.

* grow rapidly 급성장하다

ex> The IT industry has grown rapidly in recent years.

* export-driven economy 수출 주도형 경제

ex> Korea's export-driven economy is affected by the global economy.

* depend on ~에 달려 있다. 의존하다

ex> Economic growth depends on various factors.

* knowledge-based economy 지식 기반 경제

ex> Many advanced countries are moving toward a knowledge-based economy.

* invest a lot in ~에 많은 투자를 하다

ex> We should invest a lot in the younger generation.

@ Korea's economy is very resilient.  한국 경제는 저력이 있다.

@ Related Topics>> Korea’s Economic growth (2011.5.4)