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South Korea: Miracle on the Han River

South Korea: Miracle on the Han River. Marjo Crompvoets Netherlands Embassy Seoul. South Korea in 8 figures. US$ 67 No.7 85 70. N o.1 10.000 1653 2014. US$ 67 is… average GDP per capita in 1953. GDP Development 1961-2012. GDP per Capita: 1953: US$ 67

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South Korea: Miracle on the Han River

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  1. South Korea: Miracle on the Han River Marjo Crompvoets Netherlands Embassy Seoul

  2. South Korea in 8 figures US$ 67 No.7 85 70 No.1 10.000 1653 2014

  3. US$ 67 is… average GDP per capita in 1953

  4. GDP Development 1961-2012 GDP per Capita: 1953: US$ 67 1960: US$ 79 1970: US$ 255 1980: US$ 1,660 1990: US$ 6,303 2000: US$ 11,292 2010: US$ 20,500 2012: US$ 22,590

  5. No.7 is… Korea’s rank in list of biggestexporters

  6. World’sbiggestexporters (2012) Rank/Country Exports 1. China $2,049 bln. 2. United States$1,546 bln. 3. Germany $1,407 bln. 4. Japan $799 bln. 5. Netherlands$656 bln. 6. France$569 bln. 7. South Korea $548 bln. 8. Russian Federation $529 bln. 9. Italy $501 bln. 10. Hong Kong $493 bln.

  7. 85% is… the percentage of Korea’s exports thatdepends on itschaebols

  8. 70 is … the average number of supertankers that Samsung Heavy Industries (SHI) produces annually

  9. Main export sectors: Shipbuilding Cars Consumer Electronics

  10. No.1 is Korea’srank in the world in somesurprisingaspects

  11. On top of the world … • Shipbuilding • Microchips • Internet speed/Broadband subscriptions (95% of households) • Workinghours (av. 46 hours per week) • College/university enrollment (84%) • Highest expenditure on extracurriculum education

  12. Andalmost no.1 in • Mobile phonemaker - World’s no. 2 • Patent-filer - World’s no. 4 • Carmaker - World’s no. 5 • Steelmaker - World’s no. 6 • Foreign exchange reserves - World’s no. 8 • Coal import – World’s no. 3

  13. Koreanstrenghts: • Highlyskilledworkforce • Executionorientedmentality • Cando spirit • High level production engineering • High consumer expectation level: • Perfect test bed for consumer electronics and after-service

  14. (But) 10,000 stands for … the estimated number of artillery pieces pointed at Seoul

  15. Otherbut’s … Highestsuiciderate worldwide; Introvert island culture - homogenous; Strong vertical patterns; Manyregulations; Still very manufacturing focused; International competition growing; Loss of comparative advantage;

  16. 1653 is … the year the Hendrik Hamel got shipwrecked before the Korean coast

  17. The Dutch in Korea Hendrik Hamel Dutch participation in the Korean war (Guus) Hiddink Biggest EU investor in Korea (USD 618 million for 2013 and USD 22 billion cumulative) Korea’s third EU trading partner (USD 9,7 billion for 2013, after Germany and the UK)

  18. 2014 is … the year of 3,9% growth, creativeeconomy, deregulationandcontinuingopportunities

  19. Opportunities Cooperationin third countries Hi-tech,niche products Hi-tech horticulture Creative industry Consumer products

  20. Prepare the grounds for: Longer term strategy: -Energy efficiency -Hi techhorticulture -Waste management Big tradedelegation: -aerospaceindustry PIB/Top sector: -Energy (Off shorewind) -High techSystems andMaterials

  21. Questions? Holland Village, HCMC (Vietnam) 2013

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