👉South Korea Economic Slowdown to continue in 2020 !!
Channel: GeoStar TV
Date: 2020-03-30

👉South Korea Economic Slowdown to continue in 2020 !
South Korea's economy is 1.5 trillion US dollars; It is the 4th largest in Asia and the 12th largest in the world. South Korea, once one of the poorest countries in the world, escaped poverty and grew to become the World's 12th largest economy and the first Asian nation to host the G20 summit in 2010. It is a highly developed mixed economy dominated by family-owned conglomerates called Chaebols.
However, the dominance of the Chaebol is unlikely to last and engenders the risk of slowing down the transformation of the South Korean economy for the benefit of future generations.
South Korea is known for its spectacular rise from one of the poorest countries in the world to a developed, high-income country in just a few generations. This economic growth is called by some a miracle and described as the Miracle on the Han River, which has brought South Korea to the ranks of elite countries in the OECD and the G-20. South Korea still remains one of the fastest-growing developed countries in the world following the Great Recession. It is included in the group of Next Eleven countries that will dominate the global economy in the middle of the 21st century.
 
Welcome to The Atlantis Report.
Despite all the above positive notes, at present, The South Korean economy is going through a difficult time. The recent numbers show growth is the slowest it has been in six years. And a lot of blame has been put on family-run conglomerates like Hyundai, LG, and Samsung, as they dominate most of the economy.

The Economic conditions in 2019 are getting worse for Korea.
With not only the U.S.-China trade war influencing the nation's economy but also its own trade dispute with Japan that is yet to see a satisfactory conclusion. And this, of course, on top of a slowing global economy. Domestic conditions aren't looking much better.
With falling investments and consumption. According to Bloomberg, major economic institutions' average growth forecast for Korea this year fell to 1.9 percent. 

 Korea's exports fell for the 10th consecutive month, and the trend is likely to continue. This can't be good news as the Korean economy depends heavily on exports.

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