Korea Socio-economical affairs

Combat-Master

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Recent data shows that South Korea has the lowest fertility rate in the world. A lower birth rate is expected to have severe consequences on the economy, weakening economic growth and depressing fiscal revenue. But as Joseph Kim reports, the situation points to a wider problem in the country.
 

xizhimen

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What happened to east Asians? China, Japan and now Korea, a whole race is disappearing...
 

Isa Khan

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South Korea is moving closer to the implementation of a new quota system for industrial collaboration that will prioritise joint production and exports. Janes understands that it is possible that the system will replace South Korea's defence offset guidelines, which have traditionally prioritised technology transfers. The new ‘industrial co-operation quota system' was first proposed in 2018 but its implementation has been delayed due to the requirement for a legal framework through which the scheme will be executed.

This legal framework is now close to being finalised through a proposed amendment to South Korea's Defense Acquisition Program Act. Janes understands that this amendment is currently being assessed by the Defense Commission Board of the country's National Assembly before approval and formal introduction.

Once approved, relevant regulations and guidelines to support the new industrial co-operation quota system will be devised and implemented by South Korea's Defense Acquisition Program Administration (DAPA). However, a timeline for its introduction has not yet been confirmed.

DAPA told Janes that the industrial co-operation quota system policy is intended to “change the priority” of the country's defence-industrial collaboration policy from “the acquisition of defence technologies” to the “promotion of the defence industry and defence exports”.

This is a direct reference to South Korea's drive to position the country's defence-industrial base as an “engine of growth” for the national economy. The aim is to increase the defence-industrial base's share in both domestic and international defence markets.

 

Dalit

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Wow. The South Koreans are something. To think that this nation was just another developing nation a few decades ago. From 5th gen fighters to SLBMs. That is just incredible. Not to even mention big brands like Samsung, LG and others.
 

Test7

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Wow. The South Koreans are something. To think that this nation was just another developing nation a few decades ago. From 5th gen fighters to SLBMs. That is just incredible. Not to even mention big brands like Samsung, LG and others.

The contribution of the United States to development of S. Korea is significant
 

nakaFH

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Yes everytime a good reason is needed and created for allied countries under the democracy umbrella.
But everytime an irregularity is needed for target countries under the despotism umbrella.
But monkey opened her eyes and learned this secret that everbody knows.
 

TR_123456

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Yes, that is true. Obviously that happened for a good reason.
Maybe the US needed a ''blanc sheet''(start from zero) as close to China as possible.
To form it the way it wanted,economicly and militarily?
South-Korea was a warn torn poor defenceless country,a perfect opportunity for another ''Marshall'' plan.
 

Windchime

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This thread is intended for general socio-economic affairs of South Korea, ranging from trivial social affairs to economics and industry or diplomatic relations.
 

Chocopie

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Honoring the dead

Last year then President Moon Jae-In received the remains of 68 South Korean service members who died during the Korean War in a ceremony at Hickam Air Force Base, in Honolulu, Hawaii. Two sets of identified remains — belonging to Privates Kim Seok-ju and Chung Hwan-jo — were placed on the presidential airplane.
Kim and Chung served with the US 7th Infantry Division as part of the Korean Augmentation to the United States Army (KATUSA) program in the Korean War and died on the Kaema Plateau, in South Hamgyong Province, during the Battle of Chosin Reservoir.

After over 70 years both returned finally home to be buried on Korean soil (the young lady in military outfit on the plane is the grand-granddaughter of Pfc. Kim). After entering Korean ADIZ they were escorted by four F-15K fighter jets and honored with a salute of 21 flares each plane.

A solemn but beautiful sight …
 

Rodeo

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Why doesn't Korean government revaluate WON and drop some zeros from it? You're not experiencing high inflation like in the 1980s anymore. So why not remove the zeros and simplify calculations? Besides, IMO, it doesn't look good for as highly-developed country as Korea to have such depreciated national currency.
 

Chocopie

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Koreans are used to it, counting money in high numbers. They discussed about reducing some zeros, but calculated that this change would cost more (administrative changes in bank accounts, price tags etc.) and introduced a higher note (50,000 Won in 2009) instead to simplify cash payments.

Nowadays payments are mostly made electronically by card or smartphone, so no one really cares. As for the national image: public confidence in the currency is high. That counts the most.
 

Chocopie

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All in all, the future is not very promising for SK. They simply grew too fast and the society couldn't adapt, hence, they're dying out - literally.

I wouldn‘t take content from a random guy on YT who never set foot in Korea that serious. The low birth-rate is a concern, but until the 80s the peninsula was overcrowded due to poverty.

I‘ll do my best to plant my semen everywhere I can 😂 for national survival! 🫡
 

Kedikesenfare

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I wouldn‘t take content from a random guy on YT who never set foot in Korea that serious. The low birth-rate is a concern, but until the 80s the peninsula was overcrowded due to poverty.

I‘ll do my best to plant my semen everywhere I can 😂 for national survival! 🫡
There are some points which he exaggerated but in general, especially the part about Korean demography, has been correctly explained.
 

Chocopie

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True, the demographic issue is a serious one. Due to low birth rate the manpower of workforce and army is shrinking. Therefore Korea has the highest no. of industrial robots per capita.

The public doesn‘t want foreign migration like in the West (similar to Japan). We‘ll have to reunite with the North to get the numbers up. But that will be abnormally expensive and break ROK‘s economy.

PS: It‘s frickin‘ expensive to raise kids in Korea, the expenses for a good school education is mind-boggling. Definitley a wrong policy so far, they have to ease the financial burden of parents.
 

Chocopie

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There are some points which he exaggerated but in general, especially the part about Korean demography, has been correctly explained.
The YT guy is a Canadian clown and stating obviously wrong facts about Korean economy, geopolitics and society. Even I could make a bullshit clip like his about any country. Geez …
 

Ryder

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Do South Koreans support Unification with the North?

Germany both West and East reunited but do Koreans especially the South support reunification?

Korea through out its history was united but also splintered into many kingdoms then reunited again and again.

But if unification was to happen would Koreans support it or is it a burden?

Because NK compared to SK is way behind when it comes to technology and standard of living.
 

Chocopie

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Korea had roughly three competing kingdoms on the peninsula and in Manchuria. You must mix them up with the many warring states and dynasties of ancient China.

Since Unified Silla dynasty in 668 AD and the real unification under Goryeo dynasty in 935 AD Korea was a stable nation state for 1.000 years. The last Joseon dynasty ruled for more than 500 years.

An interesting article about the changing opinions of South Koreans regarding reunification throughout the times. After 70 years of separation, it‘s sad to say, Korea’s unification seems to be a distant unrealistic dream. Peaceful co-existence is the most positive scenario.

 

Nilgiri

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Interested to hear Korean members views on this article @Windchime @Chocopie @urban mine et al.

 

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