South Korea

South Korea has made impressive progress in reforming its regulatory policies and institutions over the last few years but needs to keep up the pace of reform to ensure Korea’s long-term economic growth, according to a 2007 OECD report.

In recent years, South Korean companies have made a big impact on world markets. From Samsung to Hyundai, South Korean enterprises have gained a reputation for precise electrical and automotive engineering, with a focus on quality and economy. A boom in consumer spending in Seoul and the development of a number of trade agreements with other countries in the region and the US has spurred Korea on, in a bid to keep up with the growth and demands of its domestic market, and of course, its major trading partner, China.

A beautiful country, with a highly populous capital and world-leading standards in technical connectivity, Korea provides an impressive insight into the development of Asian economies.