Korean economy has been growing at a much slower pace over the past decade since the 1997-98 Asian financial crises. Korea's gross domestic product (GDP) expanded at its slowest rate in four years in the third quarter, raising fears that Asia's fourth largest economy is entering a recession.
② Small Foreign Exchange Market
The won-dollar rate has been extremely volatile in recent months, h
Korean fast food industry which was help by the development of the Korean Economy. However due to the Asian financial crisis of 1997 the industry was also badly hit with revenues declining by 25%. It wasn't until two years later that the industry slowly started recovering again.
Korean fast food market scale is about one point 3 trillion won. Experts evaluate Korean market is mature stage, becau
They support the view the free trade is mechanism by which powerful economies dominate the weaker ones. They argue that cinematograph films especially is a way powerful economies indirectly and negatively affect dominant cultures and life styles (Choi, 2007).
Figure 1. Average Production Costs of Korean Films by year (unit: hundred million won)
Source: Korean Cinema Yearbook 2007, KOFIC
Korean luxury goods market (Myungpoom in Korean) increased 12% in sales and has shown constant 10% market improvements since 1996 each year. In 2007, the Korean luxury goods market totaled 3 trillion won, ranking 3rd in Asian market (following Japan and Hong Kong) and occupying 2% of world economy. Korea’s luxury goods market is composed of department stores, brand outlets, and duty-free shops