South Korea Country Risk Analysis Research Paper

southbound Korea Country Risk Analysis - Research Paper ExampleSouth Korea is politically stable and has excellent infrastructure. With consistent reformation policies, the Government has been able to transform the country into a knowledge-based service-oriented economy. The labor market is flexible but the wages are higher than the neighboring countries. The workforce is passing qualified but the country has an ripening population as the population growth prize is super imprint. Unemployment rate in the country is very low. Having a culture of uncertainty avoidance, risk assessments would be make and precautions and risk measures adopted. Being a collectivist society, loyalty is given importance. Economically too, the country is sound with low inflation rate, and the currency resilient to shocks. South Korea is an open economy ranking among the top 20 economies in the world. The private sector can operate freely without Government interference. The two major concerns are the aging population and corruption prevalent in the country. However, with the right business partner and sound knowledge of the economy, would benefactor foreign businesses achieve the desired objective. Introduction South Korea, the Republic of Korea, is a presidential republic, a developed country with high standard of living. Having its origin in the World War II, South Korea is a in full functional modern democracy. However, political and economic analysis would help a multinational evaluate enthronement decisions. Location/Climate South Korea is strategically located on the Korean Strait covering a total area of 99,720 sq. km with a boundline of 2,413 km (CIA, 2012). This mountainous peninsula has the Yellow sea on the west, and the Sea of Japan on the east. The southern tip of the peninsula lies on the Korea Strait and the East China Sea (Southkoreangovernment, 2012). near of the land in South Korea is not arable. The peninsula comprises of about three thousand islands th at are mostly diminished and uninhabited. South Korea has a temperate climate with very cold winters and a short rainy season. The fair(a) January temperature range is -7C to 1C (19F to 33F) in Seoul. Along the southern coast the winter temperatures are higher but they are lower in the inner mountainous areas. June through and through September is the rainy season. Population The population of South Korea as of July 2012 was 48, 860,500 with 73% of the population being in the 15 to 64 years age group. Population in South Korea has been growing at the rate of 0.204 percent which is considered a very low rate, leading to an aging population (Datamonitor, 2009). The population is mostly self-colored with just about 20,000 Chinese residing in South Korea. However, people of South Korea are either Buddhists or Christians and almost half the population (49.3 percent) does not follow any religion (CIA, 2012). The literacy rate is 97.9 percent man the unemployment rate is 9.8 percent. about South Koreans live in urban areas because of the excessive migration that took place during the countrys expansion between 1970 and 1990. As of April 2005, the number of foreign laborers in South Korea was 378,000 and 50% of these were without official authorization. Most foreign workers are from South Asian and Southeast Asian nations in addition to workers from the former Soviet Union countries and Nigeria. About 11,000 expat English teachers also live in South Korea apart from 31,000 US soldiery personnel (Southkoreangovernment, 2012). Cultural Values The cultural dimensions of any nation are essential