South Korea is heavily reliant on exports, and with the global economy slowing down, particularly in China-one of its largest trading partners-there's been a sharp decline in demand. This has affected key industries like semiconductors and automobiles
one more issue is the declining population. South Korea has one of the lowest birth rates in the world, which could lead to a shrinking workforce and a heavier burden on the social welfare system in the long run. That puts additional pressure on the economy
On the positive side, South Korea still has a strong technological base and is a leader in industries like 5G, artificial intelligence, and green technology.
The government is also rolling out various stimulus measures to boost the economy. Plus, the country has strong financial reserves, so it’s not like they’re running on empty
So it’s not all doom and gloom. But if someone is looking to invest in South Korea or has financial exposure there, wouldn’t this uncertainty make it tricky?
Because the periods of negative growth are so few and far between. The human population and economy have experienced growth since the neolithic revolution. They have experienced exponential growth since the Industrial Revolution. Periods of negative growth? Black death? Fall of Rome / Han China? Other than that it's pretty much been straight up and to the right. And it's been exponential for more than 7 generations. So when you say infinite growth is a myth, it's really the story of human history. But not forever, you protest. Well, I can't say forever, but for the last 10,000 years...
Our planet is still sooo far away from becoming a type 1 civilization on the kardashev scale and this alone indicates enormous room for growth. Infinite growth is actually obvious
@@maemorriExponential human growth mean anything to you? Producing resources to match isn't exactly natural as there is checks and balances. And those checks and balances wont be pretty for humanity. Why are humans *like you* so daft on acknowledging ENTROPY? What is your angle/what's in it for you? Peaceful anti-natalism is the utilitarian solution.
@@akito_yuki309 Agree with this opinion - The Netherlands, UAE, Vietnam are still emerging, Denmark and Spain have also overcome risks. The US economic monopoly is expected, and there is also the extreme case of Rwanda
@user-sg1wo1jc2b Oh yeah the economic powerhouse of Kazakhstan. Everyone around the world dream of getting a job in Almaty for sure lmao the fact that every other person in KZ has microcredit debt is just fake news right 😀
South Korea has a weird relationship with them. If it didn't have them its economy would not be as competitive on the world stage. But, having them has hindered the growth of local brands.
No matter how many jobs they create or how much taxes they claim to pay, monopolies always end up running the country into ground economically and socially
@@FictionHubZAyea it’s dictator in the 70s or 80s was the one to blame/thank for SK economy boom. As well as putting out the SK soft power we all know today (K-pop,Kdrama,Kfood). But he also consolidated power and spread it amongst businessmen who could expand it which they did but then they kept it for themselves.
You can replace workers with machines But machines cannot be consumers . How can the Japanese government grow the economy if 800,000 consumers are Disappear every year?
@@KarlMarch-z6kPlaza Accord took place in a New York hotel which devalued Japanese yen and other currencies, which handicapped Japan’s economy, like the Mexican peso crisis, the Asian financial crisis in 1997 when’s Soros ran the Thai baht after he ran the British pound, and like the hegemony of the U.S. petrodollar which is finally being challenged now by de-dollarization, in other words the currency wars. BTW by the way, South Korea markets have to buy more U.S. sugar than any other Asian country, according to a graduate student research paper of Prof. Bruce Cummings at University of Chicago.
I am Korean. Developed countries always experience a population cliff. Europe is the same. So they just replaced the Muslim population. It is natural for marriages to decrease when you become developed. The world is now entering the AI era. If underdeveloped countries industrialize and develop, they will naturally experience population decline even if they become developed later. And the marriage rate will also decrease. Currently, China is also experiencing a population decline because young people are not getting married. In the distant future, we will enter the AI era and all work will be replaced by robots.
You can replace workers with machines But machines cannot be consumers . How can the Japanese government grow the economy if 800,000 consumers are Disappear every year?
@@大野靖男of course good sir it’s about balance….South Korea needs to find a balance. Keeping the birth rate above the replacement ratio is a good start. Lookup the Solow economic growth model
@hwjsnfnkfk I would not offen the much bigger neighbor. He can let you live in peace and prosperity in the long run. He can give you nothing but headache.
Are any countries making progress? Every expert says the same thing - yet, countries still function. Why is that? Are we all doomed? I don't believe that
South Korea has already become developed. Per capita income levels are similar to western europe. So Growth has to be led by productivity only which can at best grow by 2%. Any extra growth has to come from exports to USA. So if US economy grows at 2%. South Korea can barely grow at 2-3%. But it is not bad at all. Compared to Spain, Italy and other southern europe, South Korea is Far ahead. Only Nordic countries, Germany, benelux countries are ahead of them. South Korea will always be at top 10 countries. What else can you expect?
As Korean whenever visit Europe i feel that our daily life looks better than most European countries. I drive MB S63 , dining out at fine restaurants anytime and travel in besiness class. Golfing at private club. Economy goes well even low comsumption.
If you have lived in South Korea for a while, you will find it's not strange to know why the economy is so bad because young people have no passion and energy. Everything seems to die.
It is really not exclusively young people's fault. Younger people in Korea, classed as generation MZ, have higher living costs than twenty years ago. Property is greatly over-valued. Getting a good job is even more of a high-stakes operation than it used to be. Older people who own property seek to maximise their investment at all costs. Yet, salaries do not keep up. So, young people, who may try very hard, end up thinking, "What's the point?" So, they give up things. They decide not to have children, or not even to get married.
The older property-owners, may treat housing as an investment, and not as a place to live. As they increase rents and puff up mortgages, they suck the life out of younger generations. Alternatively, wealthy younger people who inherit property, may look at a flourishing, characterful area of Seoul, and not value it. They will then jack up the rent to kick out the staff, then create another cosmetics shop, or knock down everything. Young people may be at fault for not organising to demand change. The fact that the chaebols aren't doing so well is a warning sign.
South Korean education isnt excellent. They dont fail students or give them low grades. As an English teacher even if a child couldnt speak or write 1 word of English you still had to give them a good grade. SK University degrees are not looked well upon for the same reason. Highest rate of child suicide in the world thanks to a terrible education system that forces kids to go to 8 hours of school and then 8 hours of Hagwon private education. And yes, the parents send them but the government should shut these down and provide good enough education at school so that kids dont need to study for 16 hours a day 🤷♀️😱
As a student in Korea, I must say that this statement is partially incorrect. If a student is not good at English, the teacher will naturally give them a low score, and they will be forced to compete with many other students receiving extensive education, leading to stress and fatigue. This is one of the reasons for the high suicide rate.
@@sky-ec7ro now this is another information and it conflicts the OP, could you give me more information? I'm a Brazilian and I am engaged in politics, specially policies about education, and our education system here is awful as nobody receives bad grades too
In the Korean education system, grades are highly stratified, allowing only the top-performing students to get into prestigious universities. I believe this system is well-structured. However, the competition has become excessively intense. Everyone invests significant time and money in trying to get into universities that fall within the top 5%, leading to considerable losses.@@ethandouro4334
@@gavinlew8273GDP growth essentially equates to profits for business owners.Given that nation states exist in service of finance, industry and merchantry you would naturally expect them to promote GDP growth.
Interesting topic. You capture some of the issues faced by Korea but you only mention in passing the single most important issue - population stabilization and decline. Economic growth rates directly correlate with population growth rates. When population growth slows or reverses into population decline, everything that powers economic growth - available labor, demand for products and, perhaps indirectly, productivity follows. This isn't necessarily bad. It just means we need to find an economic model that works in such an environment. That has been Japan's challenge. It will be interesting to see how Korea faces it.
It looks like the South Korean Economy has reached the limits of its potentiality. But this is in the economics sense. It is a hidden blessing. It will restore equilibrium to SK. The slowdown is bound to cure the demographic bombshell that SK is facing headlong fast. It is good that Koreans will not be as seduced by comfort and modernity to their own detriment as they have been these last few decades.
@@bircruz555 there is one key thing people kind of forget. The Chaebols make most of their money from selling products to other countries. South Korea could simply just become an export-driven economy instead of a consumption-driven economy like the USA.
@@FictionHubZA Point well-taken. SK is both an export-oriented and consumption-oriented economy. Sticking to one alone will mean a general reduction in standard of living. On the level of the nation, this is a good thing. And any accommodation of the demographic problem will require sacrifice by South Koreans. Bling-bling is overrated.
People aren't going to have babies until they know they can afford them and give them a decent life. If you're going to spend your life being overworked which the average Korean absolutely is, no one is going to have time to meet people and settle down. Let alone raise children if they c abrely afford to keep a roof over their head. Hard times in industralised economies does not lead to population growth. It does the opposite because children are a liability rather than a benefit like in agricultural economies. People need to live comfortably with the cost of living at a reasonable level to want children.
Good comment. Means unemployment is low, people working, low crime, clean cities....etc.. Love it! Just don't allow American Liberal to Muck things up.
Not to mention the demographic collapse of its' population. Current S Korea birth rate falls below .7; Just this year there were hundreds of schools closing down, the economy is switching to a childless one as Many service sector business now aimed at providing services for Single men and women, for example pet industry is growing rapidly as Many would buy pet to cure the loneliness. One day for sure That N Korea would unite with the S Korea with out firing a Single shot as There are no people to fight.
Population of North Korea is currently have that of South Korea, it would take generations for that to happen, and even then we are not counting South Korean diaspora of which there's millions all over the planet. Not saying you're wrong just wanted to add context.
@@Angel-qp9mp You're assuming their population is decreasing with a constant speed, but no, usually it's decreasing exponentially. It's happening faster than you think.
@@aoh4905 Ive always felt SK is a quietly unnoticed leading indicator for the world in many aspects: birthrate decline now the west, "untact generation" now jonathan haidt, infinity sideways kospi soon spx/nasdaq 💀
Fantastic video! I have incurred so much losses trading on my own.... I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
A bit of confusion here between growth and growth per person. What matters to a population is wealth per person, not absolute wealth. India is richer than Switzerland, this doesn't mean Indians are better off than Swiss people. A declining Korean economy by 2040 isn’t necessarily a problem if the population is falling too (which it is). Rising productivity (per person) and proper distributional policies can improve living standards even as growth declines.
That's mainly because, the overall GDP and some other factors of country is what protect it from outside influence, for example being ahead of other countries in certain aspects gives countries huge influence and leverage over other countries, if SK to lose its influence and leverage, which automatically gives others to increase their influence and leverage in SK, so that outsider country can easily bend the country for it's own benefits or can destabilize the country very easily@@aoh4905
You will end up with a population collapse thinking that way. Young people between 30-50 pay most of the taxes that maintain the oldest of society, even with private retirement plans. GDP matters, GDP per person more, but also maintaining or growing population.
@Zelielz1 no one is sure what a shrinking population will have in the future What we can assume is with advancements in tech and science the quality of life for the fewer people around will likely be better off per person than it is now
It gets views that’s why they keep spewing this shit over and over again. The reality is a 10 minute video cannot describe issues of the Korean economy. Or even any economy on earth. This video and every other video that says the end of _____ miracle or describes countries as dystopian will not even become close to becoming nuanced or describing what it’s actually like. But plenty of people will eat this shit up and believe it. The same with X country is gonna die out because they don’t have babies. Or all the anti American stuff people eat up online along with the anti China bs people love.
In a sentence, SK can't compete with China and lost. YT videos today are saying the same thing in different ways to lengthen the video, also provide unnecessary lengthy background or history. Usually I fast forward to skip the annoyances.
@@kcng918SK is a developed country with very high standards of living all across the board. It does not compete with a developing country like China with living standards similar to Korea in the 90s.
@@Kua99583 S.Korea is nothing in front of China, accept that fact, SK are only equal to a small province in china. And China also has cities with high living standards and modernity can compare to seoul or even better in some aspects. increasing the GDP per capita of 1.4 billion people is much much more difficult than 1 small country like SK. Using your logic, SK is nothing compared to Hong Kong .
I studied there back in 2018 and my American professor said that, unlike China and Japan, it's really hard to escape the middle income trap. Chaebols basically made it impossible to compete with them. They will always create something that's better, cheaper and more readily available compared to what your average joe can make
@@dntdnt9999 *Yeah I don't think of these guys knows what they are talking about, South Korea escaped middle income trap 30 - 40 years ago back in 1980s ... Today it have a living standard similar to countries in Western Europe especially in real terms.* *Middle income trap I mostly describe in a describe how to describe Malaysia and Thailand however they also just escaped it quite just miraculously, Especially Malaysia just recently entered High income country (about 2 years ago) I guess that is the sign that they have escaped the middle income trap?*
South Korea has definitely already escaped the middle income trap, and is just as developed as Japan, and far more developed than China, especially outside of the tier 1 and 2 cities.
*... but also remember there are some Westerner with some unscrupulous intentions still try to call Japan an "emerging economy" despite it is industrialized 140 years ago and the defeated "the Great Armada" of Britain and basically sent the entire Russian fleet (sank the main fleet then this is reinforcement backup) into the bottom of the ocean over 100 years ago* *Try to convince me that they are just ignorant and don't know any histories 👍*
@@dntdnt9999*... but also remember there are some Westerner with some unscrupulous intentions still try to call Japan an "emerging economy" despite it is industrialized 140 years ago and the defeated "the Great Armada" of Britain and basically sent the entire Russian fleet (sank the main fleet then this is reinforcement backup) into the bottom of the ocean over 100 years ago* *Try to convince me that they are just ignorant and don't know any histories 👍*
You can replace workers with machines But machines cannot be consumers . How can the Japanese government grow the economy if 800,000 consumers are Disappear every year?
Nationality is meaningless when describing the crowded oriental subway system. Anyway, I think Korea's subway system is the best among the three countries.
@@druvitduleh4883how many Chinese cities and subways have you visited? All the underground stations in China have air conditioning. The senior over 60 years old in China ride the subways for free or half price depend on the cities policy. And over 65 years old ride for free in all China. About half subways stations look like 5 stars hotel lobby, or like art museums, some subway stations have library. Some subways stations have breastfeed room and provide the diapers for baby and period pads to women for free.
요즘 유튜브에 한국 경제 관련 컨텐츠가 많던데 별로 보고싶지 않고 듣고싶지도 않습니다. 그런데 사람이 보고싶은것만 보고, 듣고싶은것만 들으며 현실부정을 한다면 그사람은 영원히 발전이 없겠죠. 그렇지만 가끔가다보면 전혀 근거가 없는 낭설을 예시로 들며 날조를 하는 클릭베이트성 컨텐츠가 많은것도 사실입니다. 왜냐하면 우리도 우리 미래가 마냥 장미빛이 아니라는걸 알고있고 또한 현실을 직시하며 해결방안을 모색하고 있기때문에 최소한 어느것이 사실인지 거짓인지는 우리도 알고있거든요. 요즘 유튜브에는 한국은 이미 멸망해서 지도에서 사라진것으로 표현이되네요 ㅋㅋㅋ
@@breakaway2x usury is a curse ,all religions say that but the modern economy and banking system is designed on loan and usury. Another curse is cheap dopamine. Instant shoots of cheap dopamine have snatched off people motivation. That's why even music is haram in islam as it is a form of cheap dopamine. Islam hates all things which provide cheap dopamine. You can see how drug addicts most of the time are failure. But nowadays society as a whole is becoming addicted to cheap dopamine, through social media, masterbation, pornography, drugs and reels.
There’s no goal in growing gdp by a certain percent each year. For undeveloped countries it’s great, but not for already developed ones. Rather the goal is to ensure high quality on life for as many people of the country as possible
People of SK are smart, diligent and strong. I live in a very highly industrialized European country that produces high-tech staff. But we buy Korean staff, TV, car, phone.. Because Korean products are vey reliable. SK will come through its problems. They have very strong mind. Greetings from Sweden to SK..
Thank you. As a Korean, I believe that we will find a way to survive, just like we have survived all the hardships of the past. Koreans become strong when we face challenge. So Thank you.
South Korea has an inspiring historical economic development. I live in Turkiye. 40 years ago, it had an economy on par with Turkiye. Now it has surpassed Turkey. It has large developed companies. Even though it has some economic problems, I think South Korea still has a developed country. I hope their economic situation will be better.
If you look it that way, it's even more impressive that Japan has been holding up up for so long. I mean the economy is stagnant but it's stagnant for 30+ years, not getting significantly worse or better.
gdp naturally slows as a country becomes a developed nation. export-oriented economy made them come up to the point they are, and their heavy investment in r/d will continue to make them competitive
Three factors that are hindering Korea's economic growth. 1. Population decline. 2. Cheabol's inefficiencies and lack of competition/aggressiveness/innovation/transformation as they once had. 3. China's rise and domination in the region and the world.
?? Korea made world first SNS and VOIP, plus navigation system and e-government are all world's first. I don't know what made you think Koreans only copied western products but next Korean innovations will likely come in forms of smart public transportation, personalized AI education and artificial sun "KSTAR". We'll see.
Korea's most profitable products today are smart phones and tablets. These are products unabashedly copied from Apple and other American companies. It led to the "patent wars" in the 2010s. The only thing that stopped the patent war was the cross-licensing business model. A smart phone has hundreds of components, each of them protected by patents. Apple and american companies need some of Korean patent rights in the digital screen in order to ship their own products globally. So they had to settle the legal disputes with South Korean IP thieves.
I know you need to put out videos for clicks and engagement but this seems blown out of proportion; Korean products are still highly competitive and have a great reputation globally (as someone in the US, the premier superpower nation, can attest to), and the Korean economy still is doing alright. They avoided the middle income trap not sure what people in the comments are talking about... Its certainly no paradise but it isnt as bleak as it is painted here
I believe South Korea can be seen as a living organism, striving for equilibrium. In this sense, the country is reducing its population to achieve a state of homeostasis. The people, its living cells, have been pushed to their limits by extreme work and study culture, intense competition, and soaring housing costs. It's as if South Korea recognizes that it can't sustain this 'overgrowth' in such a densely populated area. So, it's undergoing a kind of 'diet' to reach its optimal balance. I believe that once this adjustment is complete, the country will continue to shape a healthier society. It's an ongoing process for the survival and well-being of its people.
American engineer here who works for South Korean company (you can prob guess). Many of the Korean engineers I work with, as soon as they come to live in the U.S. as an expat for a stint of time (1-3+ years), almost always are willing to give up their safe and secure employment to immigrate into the U.S. for their family and more specifically their children’s sake. The company itself forbids it, probably because it’s expensive and brain drain is real, but the engineers more often than not always go for that green c.
Sure but that's just what you see... majority stays because that's just how countries are. Engineers do get paid more in America though but it has its pros and cons.
I know a dozen of korean peers who moved their entire family to south east asia countries like Malaysia or Singapore, to escape the "living hell" (this is the word used by them) in Seoul.
@@leezhieng China has also lay flat and let it rot economic-social issues and has not yet to achieve developed country status while already ageing at a rapid rate. To each country it's own problems.
America says China over subsidies EV, but isn't South Korean government also subsidized for their chaebols for decades to grow bigger. To make cars cheaper than Japan to have an advantage in exports?
From a brazilian point of view I hope that Korea use the conections of its people spread for the intire world to find a way to raise its economics again... nice people😊
One of the main reason is most of Korean industries are overlapping with Chinese. Just a matter of time for China to catch up due to size and population.
Problem with china is its image, chinese products suffer of in image of bad quality. People will still prefer japanese, south koreans and european products over anything chinese
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Institutions must evolve as their society change. That is true anywhere. If the social, political, and economic institutions do not change to fit the new reality, they create rigidity and kill off innovation. The result is stagnation. History is full of countries which did not change with the new conditions they face, and suffer failure. Looks like South Korea is the latest example of this rule.
You could be right but at this moment south korean export is increasing and it my beat japan in export volume ranking 5th in the world this year which is crazy considering Japan beinf 2.5 times that of South korea's population.
I am a South Korean. In general, the sugar content of fruits is higher in the fall, not in the summer. What I mean is that in the midst of the reduced population growth rate, new generations with superior abilities are being cultivated. Among them, geniuses like Elon Musk will emerge and lead us. It is true that we are facing a great crisis now, but I think that all crises, like in the past, will make us more capable and agile.
Besides the population decline, S.K. really needs to curb the conglomerates from being able to buy out or crush every really good potential startup companies. There are so many smart people in this country that can invent new ideas, but what is the point when they will just be forced to be bought out for pennies or crushed because the conglomerates can copy their new invention without any repercussions, since they control all the judges and politicians. I think giving conglomerates less power will definitely improve the SK economy in the long run.
can't agree more. what south korea did is use inteligent people with low salary and long work hours. of course china will catch up easy like korea did it to japan
@@justlim622 you missed your golden opportunity, now you have north Korean to worry about. Always thought you Korean were different and had huge Respect coz of honest people like Yoo Jae Suk, but reality is too shocking, your people are too misogynistic and racist towards Indians and other minor Asians so of course we are dislike Koreans now
no... bad video, the economy isn't in deep trouble. 2024 gdp growth for korea is expected to be at 2.6%, which surpasses most of the european countries and neighboring japan. and there is no way in hell any financial institute can confidently predict what the gdp growth would be in 2040 for any country in that matter. The biggest challenge korea faces is the low birth rate which will result in negative population growth in couple of decades.
I am Korean. Developed countries always experience a population cliff. Europe is the same. So they just replaced the Muslim population. It is natural for marriages to decrease when you become developed. The world is now entering the AI era. If underdeveloped countries industrialize and develop, they will naturally experience population decline even if they become developed later. And the marriage rate will also decrease. Currently, China is also experiencing a population decline because young people are not getting married. In the distant future, we will enter the AI era and all work will be replaced by robots.
seoul birth rate as we speak is sitting at 0.7, meaning every 3 couples you will get 2 babies. presume the number dont change, 3 generation later korean population will drop to about 15 millions. the most reliable market u can fully control r u domestic market, if u dont even have that really there nothing much u can do.
S. Korea’s population is *not* shrinking-yet. That won’t begin until around 2050, according to current projections. Yes, there is a birth rate crisis, but the population curve lags the birth rate curve.
“한국은 멸망한다” “한국이 큰일난 이유” 이런 콘텐츠는 충분히 많이뵜고 이러한 유튜버들이 단순 조회수가 잘 나오기에 동시다발 적으로 계속 만드는걸 충분히 인지하고 있다. 이제 큰일났다는 내용보다는 어떻게 문제를 해결해 나아갈까와 같은 형식의 콘텐츠들이 만들어 지면 안되는걸까? 비판과 비난만 한다고 해서 해결되는게 아니다. 한국이 단점만 있는 나라도 아니고 한국을 마치 지옥으로 묘사하는데 다 그런것도 아니다. 나처럼 편하게 욕심 내려놓고 사는 사람도 많다. 요즘 유튜버들은 한국을 지옥인 곳으로만 묘사하려고 눈에 불을 키는거 같다. 장점도 충분히 많은 나라인데 진짜 솔직히 너무한다고 생각한다.
South Korea is a country that has walked a path that no other country in the world has walked. Therefore, this debate is unproductive and we should just watch and learn how South Korea is coping with this crisis. In the past, only China learned, but now I hope that the whole world will learn from South Korea.
@@coldspring22 The countries you listed are all Asian countries with different systems, but you have a very narrow-minded view that lumps them all together as export-oriented countries. Just by looking at the K-culture, you should first realize how creative a country South Korea is. If you don’t have that perspective, you won’t be able to properly deal with the new world.
Interesting video. I think that in the 2010s, Koreans grew by taking advantage of the ‘American methods’, but in the 2020s, they seem to be in a precarious situation cuz they are also following the same side effects. Many people predict that Korea will follow the Japanese-style crisis, well honestly I’m not sure… No matter how I look at it, I think they are following the past of the fallen states of the United States. At least, the Koreans I met during the pandemic year still had passion. They might be busy fixating on the right answer they hope for. Unfortunately, most successes without philosophy are like that.
When you have no natural resources, you hit the ceiling of development pretty fast. You need to keep developing new tech and product to keep growing and, but in the era where technology becomes comoditized quickly, it is becoming an impossible feat. China, the us, indonesia and russia maybe the only countries that can still grow 3 to 6% a year because of the natural resources they have, and the price of the natural resources are not getting lower due to their scarcities.
6:05: "The population is shrinking rather than growing, and the labor force is shrinking along with it." Korean Labor force: 2023: 29.6M 2022: 29.3M 2021: 28.8M 2020: 28.6M 2019: 28.8M 2018: 28.5M The Korean labor force is at an all-time high, and since 2020 has been continually growing. Please state your source.
South Korea is not playing the regional political game properly, it keeps on pricking at China on several military fronts, not realizing that China is their nearest neighbor and a much larger population and the world’s 2nd largest economy. It just boggles my mind that SK’s leaders failed to realize that, in the long term, China will prevail. China can make or break SK, like also Taiwan, if push comes to shove.
@@bengong4383 some Koreans know but the system is towards US as SK government is governed by US as it was made. Korea should grow a pair and use US and China to take advantage.
Bcoz everyone knows china is a bully, an expansionist state, a country lead by a person akin to hitler. China wants to expand its territories all over the world. China is seen as an evil country
Whilst allying with the US has plenty of disadvantages there's a reason why China has pretty much no real allies to speak of. China works for China alone and tries to rip you off every step of the way. Not to mention China isn't doing too well at all currently. China also wouldn't be the first nation to collapse in on itself trying and failing to bully a smaller nation.
It's a country of food consumer negative. If every working class and people eat at home and can't afford to eat out. The food industry is depressive and its rippling food related sector spending that fuel a country's economy. Food generally is expensive. The tourism industry not catering to Asian tourist economy. Hotel cost is so expensive in the cities US$100 up a night for asians RM$430, whereas in Malaysia you can get a decent hotel room at RM$100 (US$23.60) and abundance of budget hotels catering to every budget conscious tourists. Land is expensive and scarcity makes commoners can't afford to own budget hotels.
S Korea is one of the cheapest places to eat out... you can even deliver food home which is cheaper than almost every western country. And Korea/Seoul is pretty cheap to live in... problem is everyone wants to live like a star. You can get decent places for $400 a month in Seoul... just stay away from posh neighborhoods. Or live in a different city.
@@wendyshoowaiching4161 your comment is what people who are online all the time will say Korea is cheap to eat out compared to other developed countries 😂😂😂
Germany is doing fine, don't listen to the cyberbullying out there, it's only gossip! Germany is still the first economy in Europe and the third in the world! They are perfectly capable of overcoming any crisis and come out straight and clean, as their history shows over and over again!
유튜브 한국 경제 관련 영상을 찾아보면 한국의 부정적인 미래를 다루는 영상이 다수임 뭐 실제로 한국이 어렵기도 하고 그런데 한국의 과거 한강의 기적을 다룬 영상은 거의 찾아보기 힘듬 결국 한국 망하는꼴 보고싶어서 제사지내는 애들이 다수라는거임 으이구 심보를 곱게써야 느그 나라들도 잘되는거지
There are many videos about the economic miracle of South Korea. The miracle is ending, the same way it has ended for Japan in the 90s. Now it is time to do reforms, incentivise start ups, push english to become more popular, get skilled immigrants, and most important build more houses to reduce their price.
@@Zelielz1 I wish for Korea's continued success and, with that in mind, I agree with your comment. The model that made Korea a developed country is not that useful anymore and so deep reforms are needed in politics, society and culture (so it will require years). At least they are a rich country with still some time (though decreasing, yes) to maneuver. I mean, there are other countries with demographic crises that are not still developed.
당연한거야 대다수 개발도상국인 아시아국가들 입장에선 후진국에서 선진국으로까지 발돋음한 한국이란 나라가 선망의 대상이자 질투의 대상이기도 하고 유럽의 선진국가들입장에선 그들과 거의 모든 부문에서 경쟁하는 국가니까 한국이 망하는 꼴을 보고 싶은 속내가 있는거지 예를들어 요즘은 좀 뜸한데 k pop 이 한참 전세계로 뻗어나갈때 유독 해외언론에서 k pop의 어두운 부분에 집중하면서 보도한 기사들이 많았었지 한마디로 부러우면서도 질투심을 가지게 된거지 근데 걱정할 필욘 없다고 본다 모든건 결과가 말해주니까...한국경제가 죽었니 내리막길이나 어쩌니 해도 올해만 봐도 수출실적도 좋고 경제성장률도 괜찮게 나올거 같거든 단하나 걱정되는건 날이 갈수록 떨어지는 출산율 정도지만
Utter BS. South Korean marketshare in semiconductors is 60% and they make the most advanced HBM chips today. They use up to 70% robots in their manufacturing - again top of the world by wide margin. They have no one to imitate from and the gap with second best is ever widening. Total crap video.
You can replace workers with machines But machines cannot be consumers . How can the Japanese government grow the economy if 800,000 consumers are Disappear every year?
A problem with capitalism. When you hit a ceiling for economic growth things go stale and bad. We don’t have any parallel or backup system to help us maintain a steady state existence with high quality living… collapse is the only realistic scenario
We'll eventually return to religious patriarchal society with spirituality and family priority over materialism amd hedonism. The question is will it be through catastrophic collapse or conscious evolution? I guess it will depend on specific countries and societies
Main reason above all is the change of economical environment of the world. Once friendly and affirmative with the growth of Korean economy so that less odds and difficulties was expected in the global marcket for us are now drastically changed due to the rise of chyna that violating so many good environment of the world market in so many cheating ways. That thing has built strong trade barriers with developed countries who has been long costumers of korean products but decoupled from all export driven growing countries like us, in fear of surging chyna's dirty plays in global market. Overall the root cause of decline in our economy stems from chyna's so many dirty plays to have violated and destroyed the sound environment of trade. Aging the labor forces and declining population or lackluster enthusiasm of businessmen to success is next causes of the decline of our economy that also originated from the vicious effects of chyna's rise and derangement in world markets. Our decline is aligned with the fall of western society in terms of decreasing revenue from trade. The developed countries have been exploited their property to chyna by so many cheating ways that has prompted themselves to build walls against all export countries, and that's the main reason.
South Korea is heavily reliant on exports, and with the global economy slowing down, particularly in China-one of its largest trading partners-there's been a sharp decline in demand. This has affected key industries like semiconductors and automobiles
household debt in South Korea is quite high, which poses a risk if interest rates rise further
one more issue is the declining population. South Korea has one of the lowest birth rates in the world, which could lead to a shrinking workforce and a heavier burden on the social welfare system in the long run. That puts additional pressure on the economy
On the positive side, South Korea still has a strong technological base and is a leader in industries like 5G, artificial intelligence, and green technology.
The government is also rolling out various stimulus measures to boost the economy. Plus, the country has strong financial reserves, so it’s not like they’re running on empty
So it’s not all doom and gloom. But if someone is looking to invest in South Korea or has financial exposure there, wouldn’t this uncertainty make it tricky?
Infinite growth is a myth - why is this so difficult to understand?
Because the periods of negative growth are so few and far between. The human population and economy have experienced growth since the neolithic revolution. They have experienced exponential growth since the Industrial Revolution. Periods of negative growth? Black death? Fall of Rome / Han China? Other than that it's pretty much been straight up and to the right. And it's been exponential for more than 7 generations. So when you say infinite growth is a myth, it's really the story of human history. But not forever, you protest. Well, I can't say forever, but for the last 10,000 years...
Our planet is still sooo far away from becoming a type 1 civilization on the kardashev scale and this alone indicates enormous room for growth. Infinite growth is actually obvious
@@maemorriExponential human growth mean anything to you? Producing resources to match isn't exactly natural as there is checks and balances. And those checks and balances wont be pretty for humanity. Why are humans *like you* so daft on acknowledging ENTROPY? What is your angle/what's in it for you? Peaceful anti-natalism is the utilitarian solution.
@@vivekpraseed918Another lost human.
Is there any country whose economy is not in trouble these days?
i think for now Vietnam, India, Singapore, Indonesia, UAE, Netherland, Poland, and Norway is on the right track.
@@akito_yuki309 Agree with this opinion - The Netherlands, UAE, Vietnam are still emerging, Denmark and Spain have also overcome risks. The US economic monopoly is expected, and there is also the extreme case of Rwanda
@@akito_yuki309id also add spain and kazakhstan
@user-sg1wo1jc2b Oh yeah the economic powerhouse of Kazakhstan. Everyone around the world dream of getting a job in Almaty for sure lmao the fact that every other person in KZ has microcredit debt is just fake news right 😀
@@akito_yuki309No. I think India’s growth is overrated. It is fueled by unsustainable borrowing and debts.
This is where monopolies take us
South Korea has a weird relationship with them. If it didn't have them its economy would not be as competitive on the world stage. But, having them has hindered the growth of local brands.
No matter how many jobs they create or how much taxes they claim to pay, monopolies always end up running the country into ground economically and socially
Step aside company town, here comes company country.
@@FictionHubZAyea it’s dictator in the 70s or 80s was the one to blame/thank for SK economy boom. As well as putting out the SK soft power we all know today (K-pop,Kdrama,Kfood). But he also consolidated power and spread it amongst businessmen who could expand it which they did but then they kept it for themselves.
It's a model that helped but now it's not only not helping but hindering growth for future decades.
20% content
80% slow talking filler
he does sound strange
Ai
speed it up bro
@@johnclaudefrancisco1387
fast talking filler is still filler
It sounds like half the video was written by chatgpt. A whole lot of nothing
Their population crisis is the biggest problem. Young people fuel the future.
You can replace workers with machines But machines cannot be consumers .
How can the Japanese government grow the economy if 800,000 consumers are Disappear every year?
@@carkawalakhatulistiwa
Machines and AI is the wild card.
Japan is a perfect example. They were stagnant for 30 years.
@@KarlMarch-z6kPlaza Accord took place in a New York hotel which devalued Japanese yen and other currencies, which handicapped Japan’s economy, like the Mexican peso crisis, the Asian financial crisis in 1997 when’s Soros ran the Thai baht after he ran the British pound, and like the hegemony of the U.S. petrodollar which is finally being challenged now by de-dollarization, in other words the currency wars. BTW by the way, South Korea markets have to buy more U.S. sugar than any other Asian country, according to a graduate student research paper of Prof. Bruce Cummings at University of Chicago.
I am Korean. Developed countries always experience a population cliff. Europe is the same. So they just replaced the Muslim population. It is natural for marriages to decrease when you become developed.
The world is now entering the AI era.
If underdeveloped countries industrialize and develop, they will naturally experience population decline even if they become developed later. And the marriage rate will also decrease. Currently, China is also experiencing a population decline because young people are not getting married.
In the distant future, we will enter the AI era and all work will be replaced by robots.
I agree, unfortunately that future may not be that distant.
You can only grow so much as a Nation. Its definitely stagnant but the economy is still great.
It's still growing faster than many countries with similar gdp per capita. This sounds sensationalist
This is new Japan. Zero growth for decades on end.
韓国はエンドユーザーにアピールできる製品を持っている事で過大評価されている。実際には日本を含む他国から部品、原材料、組み立て機械まで輸入しなければ何もできない。自動車では日本に勝てないし、半導体でも台湾に負ける。最大の弱点は金融だと思う。
You can replace workers with machines But machines cannot be consumers .
How can the Japanese government grow the economy if 800,000 consumers are Disappear every year?
@@carkawalakhatulistiwa ただ人が大勢いるだけで良いのなら、アフリカや南米も豊かな筈だ。欧米人は人を増やせば良いと考えているようだが、それが本当に正しいのか。俺には現状の欧米は凋落の一途を辿っているようにしか見えない。
@@大野靖男of course good sir it’s about balance….South Korea needs to find a balance. Keeping the birth rate above the replacement ratio is a good start. Lookup the Solow economic growth model
여긴 뉴재팬이 아니라 실제 헬조선입니다
For Korea, having reached an income level of over 30k USD, of course the growth rate will slow down.
SK is losing their risk taking spirit. Mindless competition with a neighbor 70 times her size.
@hwjsnfnkfk I would not offen the much bigger neighbor. He can let you live in peace and prosperity in the long run. He can give you nothing but headache.
As a South Korean, I predict that we will be forced to automate...EVERYTHING, and that we will be damned good at doing that.
Are any countries making progress? Every expert says the same thing - yet, countries still function. Why is that? Are we all doomed? I don't believe that
South Korea has already become developed. Per capita income levels are similar to western europe. So Growth has to be led by productivity only which can at best grow by 2%. Any extra growth has to come from exports to USA. So if US economy grows at 2%. South Korea can barely grow at 2-3%. But it is not bad at all. Compared to Spain, Italy and other southern europe, South Korea is Far ahead. Only Nordic countries, Germany, benelux countries are ahead of them. South Korea will always be at top 10 countries. What else can you expect?
Hell, ppp per capita wise, it's already overtaken the UK
As Korean whenever visit Europe i feel that our daily life looks better than most European countries. I drive MB S63 , dining out at fine restaurants anytime and travel in besiness class. Golfing at private club. Economy goes well even low comsumption.
@@brianhlee4781asia is already better developed than the americas and europe, this is just caucasioids coping when they make hit pieces against asia
If you have lived in South Korea for a while, you will find it's not strange to know why the economy is so bad because young people have no passion and energy. Everything seems to die.
because everything is grasped by the Chaebols, there are no opportunities for the young generations.
It is really not exclusively young people's fault. Younger people in Korea, classed as generation MZ, have higher living costs than twenty years ago. Property is greatly over-valued. Getting a good job is even more of a high-stakes operation than it used to be. Older people who own property seek to maximise their investment at all costs. Yet, salaries do not keep up. So, young people, who may try very hard, end up thinking, "What's the point?" So, they give up things. They decide not to have children, or not even to get married.
The older property-owners, may treat housing as an investment, and not as a place to live. As they increase rents and puff up mortgages, they suck the life out of younger generations. Alternatively, wealthy younger people who inherit property, may look at a flourishing, characterful area of Seoul, and not value it. They will then jack up the rent to kick out the staff, then create another cosmetics shop, or knock down everything.
Young people may be at fault for not organising to demand change. The fact that the chaebols aren't doing so well is a warning sign.
Is the economy bad because young people have no passion or energy, or do young people have no passion and energy because the economy is bad?
@@drno87 the latter :/
South Korean education isnt excellent. They dont fail students or give them low grades. As an English teacher even if a child couldnt speak or write 1 word of English you still had to give them a good grade. SK University degrees are not looked well upon for the same reason. Highest rate of child suicide in the world thanks to a terrible education system that forces kids to go to 8 hours of school and then 8 hours of Hagwon private education. And yes, the parents send them but the government should shut these down and provide good enough education at school so that kids dont need to study for 16 hours a day 🤷♀️😱
Could you please give more info? This is baffling
As a student in Korea, I must say that this statement is partially incorrect. If a student is not good at English, the teacher will naturally give them a low score, and they will be forced to compete with many other students receiving extensive education, leading to stress and fatigue. This is one of the reasons for the high suicide rate.
@@sky-ec7ro now this is another information and it conflicts the OP, could you give me more information? I'm a Brazilian and I am engaged in politics, specially policies about education, and our education system here is awful as nobody receives bad grades too
In the Korean education system, grades are highly stratified, allowing only the top-performing students to get into prestigious universities. I believe this system is well-structured. However, the competition has become excessively intense. Everyone invests significant time and money in trying to get into universities that fall within the top 5%, leading to considerable losses.@@ethandouro4334
They suicide because they have high IQ and they know life is a rip off.
I mean basically all european nations have a lot worse growth rate than South Korea
No need to worry. Just change the narrative from "slowing growth" to "mature and stable" economy. Problem, what problem?
exactly.. with all these talks of Japan stagnating.. they seem to be doing just fine..
Infinite growth is impossible.
So why are all nations pushing for GDP growth knowing that it has limits?
@@gavinlew8273GDP growth essentially equates to profits for business owners.Given that nation states exist in service of finance, industry and merchantry you would naturally expect them to promote GDP growth.
Infinite growth is not needed. Just be satisfied after you have "enough".
Yeah, Except for USA. When their growth is over, the whole world will.
Not true. The US has been growing consistently for like 60 years.
Interesting topic. You capture some of the issues faced by Korea but you only mention in passing the single most important issue - population stabilization and decline. Economic growth rates directly correlate with population growth rates. When population growth slows or reverses into population decline, everything that powers economic growth - available labor, demand for products and, perhaps indirectly, productivity follows. This isn't necessarily bad. It just means we need to find an economic model that works in such an environment. That has been Japan's challenge. It will be interesting to see how Korea faces it.
It looks like the South Korean Economy has reached the limits of its potentiality. But this is in the economics sense. It is a hidden blessing. It will restore equilibrium to SK. The slowdown is bound to cure the demographic bombshell that SK is facing headlong fast. It is good that Koreans will not be as seduced by comfort and modernity to their own detriment as they have been these last few decades.
@@bircruz555 there is one key thing people kind of forget. The Chaebols make most of their money from selling products to other countries. South Korea could simply just become an export-driven economy instead of a consumption-driven economy like the USA.
@@FictionHubZA Point well-taken. SK is both an export-oriented and consumption-oriented economy. Sticking to one alone will mean a general reduction in standard of living. On the level of the nation, this is a good thing. And any accommodation of the demographic problem will require sacrifice by South Koreans. Bling-bling is overrated.
can korean women have a first baby when they are 30 years old instead of just playing until theyre 40 years old?
People aren't going to have babies until they know they can afford them and give them a decent life.
If you're going to spend your life being overworked which the average Korean absolutely is, no one is going to have time to meet people and settle down. Let alone raise children if they c abrely afford to keep a roof over their head.
Hard times in industralised economies does not lead to population growth. It does the opposite because children are a liability rather than a benefit like in agricultural economies.
People need to live comfortably with the cost of living at a reasonable level to want children.
Good comment. Means unemployment is low, people working, low crime, clean cities....etc.. Love it! Just don't allow American Liberal to Muck things up.
Not to mention the demographic collapse of its' population. Current S Korea birth rate falls below .7; Just this year there were hundreds of schools closing down, the economy is switching to a childless one as Many service sector business now aimed at providing services for Single men and women, for example pet industry is growing rapidly as Many would buy pet to cure the loneliness. One day for sure That N Korea would unite with the S Korea with out firing a Single shot as There are no people to fight.
Population of North Korea is currently have that of South Korea, it would take generations for that to happen, and even then we are not counting South Korean diaspora of which there's millions all over the planet. Not saying you're wrong just wanted to add context.
This is a problem in EVERY rich country...
@@Angel-qp9mp You're assuming their population is decreasing with a constant speed, but no, usually it's decreasing exponentially. It's happening faster than you think.
@@aoh4905 Ive always felt SK is a quietly unnoticed leading indicator for the world in many aspects: birthrate decline now the west, "untact generation" now jonathan haidt, infinity sideways kospi soon spx/nasdaq 💀
@leezhieng no it's an aging society people not a dying one
I like how south Korea Went From a country which was Poor than Many African Nations To becoming a 1st world Country
Miracle on the han river
Hard work and sacrifices.
as they say first gen sets up for the 2nd gen, the 2nd gen make the wealth and the 3rd gen waste it all.
German miracle😂
Chinese miracle😂
South Korea miracle😂😂😂
Fantastic video! I have incurred so much losses trading on my own.... I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Same here, my portfolio has been going down the drain while I try trading,I just don't know what I do wrong..
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
I think l'm blessed if not I wouldn't have met someone who is as spectacular as expert mrs Fenella..
Highly recommended 🙌
Wow, I'm surprised to see Fenella mentioned here as well. I didn't know she had been kind to so many people
I'm also a huge beneficiary of her..
I thought myself and my family were
the only ones enjoying Fenella
trade benefits
A bit of confusion here between growth and growth per person. What matters to a population is wealth per person, not absolute wealth. India is richer than Switzerland, this doesn't mean Indians are better off than Swiss people. A declining Korean economy by 2040 isn’t necessarily a problem if the population is falling too (which it is). Rising productivity (per person) and proper distributional policies can improve living standards even as growth declines.
Issue is some people care more about overall GDP while others care more about quality of living.
That's mainly because, the overall GDP and some other factors of country is what protect it from outside influence, for example being ahead of other countries in certain aspects gives countries huge influence and leverage over other countries, if SK to lose its influence and leverage, which automatically gives others to increase their influence and leverage in SK, so that outsider country can easily bend the country for it's own benefits or can destabilize the country very easily@@aoh4905
You will end up with a population collapse thinking that way. Young people between 30-50 pay most of the taxes that maintain the oldest of society, even with private retirement plans.
GDP matters, GDP per person more, but also maintaining or growing population.
@Zelielz1 no one is sure what a shrinking population will have in the future
What we can assume is with advancements in tech and science the quality of life for the fewer people around will likely be better off per person than it is now
@@chappy3125 Not if you are living off the taxes of people who dont exist anymore.
You are saying the same thing over and over and over and over again. Man it's annoying.
It gets views that’s why they keep spewing this shit over and over again. The reality is a 10 minute video cannot describe issues of the Korean economy. Or even any economy on earth. This video and every other video that says the end of _____ miracle or describes countries as dystopian will not even become close to becoming nuanced or describing what it’s actually like. But plenty of people will eat this shit up and believe it. The same with X country is gonna die out because they don’t have babies. Or all the anti American stuff people eat up online along with the anti China bs people love.
In a sentence, SK can't compete with China and lost. YT videos today are saying the same thing in different ways to lengthen the video, also provide unnecessary lengthy background or history. Usually I fast forward to skip the annoyances.
@@kcng918SK is a developed country with very high standards of living all across the board. It does not compete with a developing country like China with living standards similar to Korea in the 90s.
@@Kua99583 S.Korea is nothing in front of China, accept that fact, SK are only equal to a small province in china. And China also has cities with high living standards and modernity can compare to seoul or even better in some aspects.
increasing the GDP per capita of 1.4 billion people is much much more difficult than 1 small country like SK.
Using your logic, SK is nothing compared to Hong Kong .
Was there a minimum word-count-like some junior high book report?
I studied there back in 2018 and my American professor said that, unlike China and Japan, it's really hard to escape the middle income trap. Chaebols basically made it impossible to compete with them. They will always create something that's better, cheaper and more readily available compared to what your average joe can make
I thought Korea already escaped that trap?
@@dntdnt9999 *Yeah I don't think of these guys knows what they are talking about, South Korea escaped middle income trap 30 - 40 years ago back in 1980s ... Today it have a living standard similar to countries in Western Europe especially in real terms.*
*Middle income trap I mostly describe in a describe how to describe Malaysia and Thailand however they also just escaped it quite just miraculously, Especially Malaysia just recently entered High income country (about 2 years ago) I guess that is the sign that they have escaped the middle income trap?*
South Korea has definitely already escaped the middle income trap, and is just as developed as Japan, and far more developed than China, especially outside of the tier 1 and 2 cities.
*... but also remember there are some Westerner with some unscrupulous intentions still try to call Japan an "emerging economy" despite it is industrialized 140 years ago and the defeated "the Great Armada" of Britain and basically sent the entire Russian fleet (sank the main fleet then this is reinforcement backup) into the bottom of the ocean over 100 years ago*
*Try to convince me that they are just ignorant and don't know any histories 👍*
@@dntdnt9999*... but also remember there are some Westerner with some unscrupulous intentions still try to call Japan an "emerging economy" despite it is industrialized 140 years ago and the defeated "the Great Armada" of Britain and basically sent the entire Russian fleet (sank the main fleet then this is reinforcement backup) into the bottom of the ocean over 100 years ago*
*Try to convince me that they are just ignorant and don't know any histories 👍*
When the country leaders are in love with the USD paper currency, then the people will suffer.
Really, name me a country whose currency is nothing but paper?
can korean women have a first baby when they are 30 years old instead of just playing until theyre 40 years old?
You did not watch the vid.
4:50 This is not South Korea, but Japan.
And 4:54 is Hong Kong or China
You can replace workers with machines But machines cannot be consumers .
How can the Japanese government grow the economy if 800,000 consumers are Disappear every year?
Nationality is meaningless when describing the crowded oriental subway system. Anyway, I think Korea's subway system is the best among the three countries.
@@druvitduleh4883how many Chinese cities and subways have you visited?
All the underground stations in China have air conditioning.
The senior over 60 years old in China ride the subways for free or half price depend on the cities policy. And over 65 years old ride for free in all China.
About half subways stations look like 5 stars hotel lobby, or like art museums, some subway stations have library. Some subways stations have breastfeed room and provide the diapers for baby and period pads to women for free.
Same same...
Miracle might be over,but progress will go on. This year Korea export looks the highest in recent years by the strong bouncing from major industries.
Korean big corporations received heavily subsidies from its government for years, but…never faced sanctions from the US like China now.
that's because SK is considered a valuable ally to the US. There are many military bases there that are strategically important.
@@jh-il5sb Lol , SK is under occupation not valuable ally . It's being prepared to become a 2nd ukraine to fight china .
보조금 받지 않아요 지방에서 산업단지 장소 조성해 주는것 세금 감면 정도의 혜택이 다 입니다 중국과 비교하면 안됨
@@fislen-e1d보조금 엄청 받음. 대기업 존재이유 = 적은 수의 기업을 보조금으로 운영하는 시스템 = 우리나라 경제
No subsidies at all. Just tax cut for R n D investment.
Extreme inequality reverses progress, anywhere
China has much higher inequality than 40 years ago and the average people still are much better off.
요즘 유튜브에 한국 경제 관련 컨텐츠가 많던데 별로 보고싶지 않고 듣고싶지도 않습니다.
그런데 사람이 보고싶은것만 보고, 듣고싶은것만 들으며 현실부정을 한다면 그사람은 영원히 발전이 없겠죠.
그렇지만 가끔가다보면 전혀 근거가 없는 낭설을 예시로 들며 날조를 하는 클릭베이트성 컨텐츠가 많은것도 사실입니다.
왜냐하면 우리도 우리 미래가 마냥 장미빛이 아니라는걸 알고있고
또한 현실을 직시하며 해결방안을 모색하고 있기때문에 최소한 어느것이 사실인지 거짓인지는 우리도 알고있거든요.
요즘 유튜브에는 한국은 이미 멸망해서 지도에서 사라진것으로 표현이되네요 ㅋㅋㅋ
해결방안을 모색하지 않는다는게 문제죠. 걍 사실만 알리는 수준에서 끝나고 잇음. 정작 5-10년내에 경제와 사회인프라가 초토화될텐데. 결국은 인구재앙의 쓰나미를 쳐맞을겁니다
Not just Korea! You should see what they do to Germany, UK and Japan! It's cyberbullying and it should be censored in my opinion!
I totally agree.
경제는 돈이다. 돈에 관한 노력엔 기적이란 없다. 현명하고 현실적으로 생각하고 노력하라. 개선의 여지가 있는 한 한국은 거기에 있을 것이다. 그것이 성공이다. 한국은 항상 성공할 확률이 다른 인종보다 높다. 공부하는것을 보면 알수있다. 세상 뭐라해도 한국은 못이길것이다
As a teacher in Korea, I can confirm. My pay has not risen in 15 years.
Meanwhile the price of kimbop doubled 😢
This sounds like japan...
@@bayjustin3885 I remember when dinners cost me 5000 won flat and when a bag of 8 apples cost 4000-5000. Wth is going on with this world?
@@breakaway2x usury is a curse ,all religions say that but the modern economy and banking system is designed on loan and usury.
Another curse is cheap dopamine.
Instant shoots of cheap dopamine have snatched off people motivation.
That's why even music is haram in islam as it is a form of cheap dopamine.
Islam hates all things which provide cheap dopamine.
You can see how drug addicts most of the time are failure.
But nowadays society as a whole is becoming addicted to cheap dopamine, through social media, masterbation, pornography, drugs and reels.
ㅈㄹ하고있네 2009년 1호봉 기본급이 90만원이었고 2024년 15호봉이 270만원이다
단순비교로 3배 올랐고 기본급제외하고 기타 금액 100만원 가산하면 400넘을텐데???
Individual prosperity is more important than economic growth.
There’s no goal in growing gdp by a certain percent each year. For undeveloped countries it’s great, but not for already developed ones. Rather the goal is to ensure high quality on life for as many people of the country as possible
People of SK are smart, diligent and strong. I live in a very highly industrialized European country that produces high-tech staff. But we buy Korean staff, TV, car, phone.. Because Korean products are vey reliable. SK will come through its problems. They have very strong mind. Greetings from Sweden to SK..
This! Koreans always survived thru adaptation and ingenuity for millenniums.
thank you from south korea.
Thank you. As a Korean, I believe that we will find a way to survive, just like we have survived all the hardships of the past. Koreans become strong when we face challenge. So Thank you.
Sweden soon will become African shthole with the same crime, gang wars, zero working culture and education.
Praise the liberalism and feminism
South Korea has an inspiring historical economic development. I live in Turkiye. 40 years ago, it had an economy on par with Turkiye. Now it has surpassed Turkey. It has large developed companies. Even though it has some economic problems, I think South Korea still has a developed country. I hope their economic situation will be better.
Never see or watch any products Made in Turkey
@@silverianjannvs5315 we buy their fruits and clothes
If you look it that way, it's even more impressive that Japan has been holding up up for so long. I mean the economy is stagnant but it's stagnant for 30+ years, not getting significantly worse or better.
no. just like a man or woman in his/her 20's. He will graduatelly become old. But the process speed up when he/she passes 33/34.
@@kangzhilou4207 man, that are specfic numbers xD
日本の事を悪く言っている人たちが住んでいるどの国よりも日本は豊かで安定しています。
@@大野靖男 その通りです。だからまた帰ることに決めました。あと数年わかかりますけど。😞
The Warmongering US and their weaponized dollars are the main downfall of many nation's economy
gdp naturally slows as a country becomes a developed nation. export-oriented economy made them come up to the point they are, and their heavy investment in r/d will continue to make them competitive
Thanks, interesting upload - I lived in Seoul between 2006-2012
1985 to 2003, was in the states for a few years for university and settled here in 2011 permanently.
Three factors that are hindering Korea's economic growth.
1. Population decline.
2. Cheabol's inefficiencies and lack of competition/aggressiveness/innovation/transformation as they once had.
3. China's rise and domination in the region and the world.
Short video with concentrated information. I really appreciate your work. Thank you.
?? Korea made world first SNS and VOIP, plus navigation system and e-government are all world's first. I don't know what made you think Koreans only copied western products but next Korean innovations will likely come in forms of smart public transportation, personalized AI education and artificial sun "KSTAR". We'll see.
Korea's most profitable products today are smart phones and tablets. These are products unabashedly copied from Apple and other American companies. It led to the "patent wars" in the 2010s. The only thing that stopped the patent war was the cross-licensing business model. A smart phone has hundreds of components, each of them protected by patents. Apple and american companies need some of Korean patent rights in the digital screen in order to ship their own products globally. So they had to settle the legal disputes with South Korean IP thieves.
Saw this video and I can say this is a shitpost. No sources, no analysis, just an opinion based on the same criticism that existed since the 70s.
No child + cronisym = high income trap
I know you need to put out videos for clicks and engagement but this seems blown out of proportion; Korean products are still highly competitive and have a great reputation globally (as someone in the US, the premier superpower nation, can attest to), and the Korean economy still is doing alright. They avoided the middle income trap not sure what people in the comments are talking about...
Its certainly no paradise but it isnt as bleak as it is painted here
I believe South Korea can be seen as a living organism, striving for equilibrium. In this sense, the country is reducing its population to achieve a state of homeostasis. The people, its living cells, have been pushed to their limits by extreme work and study culture, intense competition, and soaring housing costs. It's as if South Korea recognizes that it can't sustain this 'overgrowth' in such a densely populated area. So, it's undergoing a kind of 'diet' to reach its optimal balance. I believe that once this adjustment is complete, the country will continue to shape a healthier society. It's an ongoing process for the survival and well-being of its people.
Any better country among advanced economies??? Other countries have faced more severe problems than South Korea. Look at yourself.
Sansung mobiles really hanged very soon.. i bought very expensive samsung mob.. it started hanging within 2 years..
American engineer here who works for South Korean company (you can prob guess). Many of the Korean engineers I work with, as soon as they come to live in the U.S. as an expat for a stint of time (1-3+ years), almost always are willing to give up their safe and secure employment to immigrate into the U.S. for their family and more specifically their children’s sake. The company itself forbids it, probably because it’s expensive and brain drain is real, but the engineers more often than not always go for that green c.
Then they come back to Korea after racist xenophobia drugs and police brutality of America.
America is already a failed country. Woke and DEI itself show the backwardness of it
Sure but that's just what you see... majority stays because that's just how countries are. Engineers do get paid more in America though but it has its pros and cons.
I know a dozen of korean peers who moved their entire family to south east asia countries like Malaysia or Singapore, to escape the "living hell" (this is the word used by them) in Seoul.
@@leezhieng China has also lay flat and let it rot economic-social issues and has not yet to achieve developed country status while already ageing at a rapid rate. To each country it's own problems.
America says China over subsidies EV, but isn't South Korean government also subsidized for their chaebols for decades to grow bigger. To make cars cheaper than Japan to have an advantage in exports?
US and EU also heavily subsidize a lot of companies and industries
From a brazilian point of view I hope that Korea use the conections of its people spread for the intire world to find a way to raise its economics again... nice people😊
Adapt or die... no way they thought things were going to stay the same forever.
One of the main reason is most of Korean industries are overlapping with Chinese. Just a matter of time for China to catch up due to size and population.
Problem with china is its image, chinese products suffer of in image of bad quality. People will still prefer japanese, south koreans and european products over anything chinese
They already caught up and is surpassing them. And the gap will be wider.
@@Skkj0802 Reasons for China's growth: low prices, imitations, low-cost labor. Quality is still low.
The big one for South Korea would be the unification with North Korea ( peninsula).
Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Jessica Lee Horst who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Jessica has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
But don't worry. They'll find a way, just like they always have.
Institutions must evolve as their society change. That is true anywhere. If the social, political, and economic institutions do not change to fit the new reality, they create rigidity and kill off innovation. The result is stagnation. History is full of countries which did not change with the new conditions they face, and suffer failure.
Looks like South Korea is the latest example of this rule.
South korean tears is the best coffee ingredient.
You could be right but at this moment south korean export is increasing and it my beat japan in export volume ranking 5th in the world this year which is crazy considering Japan beinf 2.5 times that of South korea's population.
Less concerned since Korea is continuing to offshore. None of that production gets counted into GDP.
I am a South Korean. In general, the sugar content of fruits is higher in the fall, not in the summer. What I mean is that in the midst of the reduced population growth rate, new generations with superior abilities are being cultivated. Among them, geniuses like Elon Musk will emerge and lead us. It is true that we are facing a great crisis now, but I think that all crises, like in the past, will make us more capable and agile.
SK needs its own Elon Musk then..
@@svart7716every country needed
@noneunpaeseperneoliberistiSouth Korea has 0 scientific Nobel Prizes. Zero.
Welcome to Korea! Hungary.
When you discover just how phony the “myth of Elon Musk” really is, you will be disgusted with yourself for ever admiring that man!
Besides the population decline, S.K. really needs to curb the conglomerates from being able to buy out or crush every really good potential startup companies. There are so many smart people in this country that can invent new ideas, but what is the point when they will just be forced to be bought out for pennies or crushed because the conglomerates can copy their new invention without any repercussions, since they control all the judges and politicians. I think giving conglomerates less power will definitely improve the SK economy in the long run.
South Korea is doing fine and North Korea population is in a decline
Anything South Korea can do, China can do, and China has a ginormous domestic market to rely on.
can't agree more. what south korea did is use inteligent people with low salary and long work hours. of course china will catch up easy like korea did it to japan
no because china is run by commies and communism fails 100% of the time.
It's not that easy because of patents.. some things China will catch up but others they can't at the same level.
LMAO
And China can do better and cheaper. Only thing China is not better is President Xi cannot sing American Pie to the American people like SK President.
Bad video. It runs deeper and bot whatbit says because Korea big brands are not lacking in producing goods that sells
" We will find a way; we always have "...
..from Kor.. :)
no you cant, its too late now
@@toshiyanger4121do you take satisfaction in that? I assume you are pro Japan? Why come here?
@@justlim622 you missed your golden opportunity, now you have north Korean to worry about. Always thought you Korean were different and had huge Respect coz of honest people like Yoo Jae Suk, but reality is too shocking, your people are too misogynistic and racist towards Indians and other minor Asians so of course we are dislike Koreans now
@@toshiyanger4121 Hey buddy, you don't hold the future in your hand and do not know how it will go. Chill sweetie 🥰
@@Rainbow_Taxi_1A all out war is inevitable now but south will win at the cost of half of all Koreans.
Every thing will be alright....
no... bad video, the economy isn't in deep trouble. 2024 gdp growth for korea is expected to be at 2.6%, which surpasses most of the european countries and neighboring japan. and there is no way in hell any financial institute can confidently predict what the gdp growth would be in 2040 for any country in that matter. The biggest challenge korea faces is the low birth rate which will result in negative population growth in couple of decades.
But the new horse they developed, defense industry, will carry at least one more generation.
I am Korean. Developed countries always experience a population cliff. Europe is the same. So they just replaced the Muslim population. It is natural for marriages to decrease when you become developed.
The world is now entering the AI era.
If underdeveloped countries industrialize and develop, they will naturally experience population decline even if they become developed later. And the marriage rate will also decrease. Currently, China is also experiencing a population decline because young people are not getting married.
In the distant future, we will enter the AI era and all work will be replaced by robots.
통일 되면 다 해결 되느니라 😂😂😂
북한이 개방하는 순간 우린 대륙이니라 😂😂
무한 성장 가능하다😂😂😂😂
Wrong opinion!
seoul birth rate as we speak is sitting at 0.7, meaning every 3 couples you will get 2 babies. presume the number dont change, 3 generation later korean population will drop to about 15 millions. the most reliable market u can fully control r u domestic market, if u dont even have that really there nothing much u can do.
S. Korea’s population is *not* shrinking-yet. That won’t begin until around 2050, according to current projections. Yes, there is a birth rate crisis, but the population curve lags the birth rate curve.
“한국은 멸망한다” “한국이 큰일난 이유” 이런 콘텐츠는 충분히 많이뵜고 이러한 유튜버들이 단순 조회수가 잘 나오기에 동시다발 적으로 계속 만드는걸 충분히 인지하고 있다. 이제 큰일났다는 내용보다는 어떻게 문제를 해결해 나아갈까와 같은 형식의 콘텐츠들이 만들어 지면 안되는걸까? 비판과 비난만 한다고 해서 해결되는게 아니다. 한국이 단점만 있는 나라도 아니고 한국을 마치 지옥으로 묘사하는데 다 그런것도 아니다. 나처럼 편하게 욕심 내려놓고 사는 사람도 많다. 요즘 유튜버들은 한국을 지옥인 곳으로만 묘사하려고 눈에 불을 키는거 같다. 장점도 충분히 많은 나라인데 진짜 솔직히 너무한다고 생각한다.
장점이라고 생각하면 시회인프라가 잘 갖춰져 잇다는건데, 그것도 인구재앙으로 5-10년내에 초토화된다는게 문제죠
@@donlee410510년내는 아님 도시구조가 필요에 의해 변하겠지
정신차려. 나라 망했어.
빤쓰만 입고 학생들 놔두고 혼자만 탈출한 세월호 선장... 얼마전 세계적망신된 잼버리 사태... 최근 이슈인 축구협회... 스포츠계가 저지경이면 다른분야는 볼것도 없다 😂
The solution: Decouple from US. Stop being bullied and told how to run your country.
Don't worry. Koreans are smart people.
South Korea is a country that has walked a path that no other country in the world has walked. Therefore, this debate is unproductive and we should just watch and learn how South Korea is coping with this crisis. In the past, only China learned, but now I hope that the whole world will learn from South Korea.
No. South Korea is same story as Japan, China, Hong Kong, Taiwan and Singapore. All export lead "miracle" economies.
@@coldspring22 The countries you listed are all Asian countries with different systems, but you have a very narrow-minded view that lumps them all together as export-oriented countries. Just by looking at the K-culture, you should first realize how creative a country South Korea is. If you don’t have that perspective, you won’t be able to properly deal with the new world.
내년에는 기적처럼 한국에서 석유 시추에 성공하고 산유국이 되어서 지금보다 경제가 더욱 크게 발전할 거라 믿습니다. 내년 여름에 다시 봐요. 😊
Some valid points here. But South Korea is still in a much better position than the European powers like Germany and France.
Interesting video. I think that in the 2010s, Koreans grew by taking advantage of the ‘American methods’, but in the 2020s, they seem to be in a precarious situation cuz they are also following the same side effects. Many people predict that Korea will follow the Japanese-style crisis, well honestly I’m not sure… No matter how I look at it, I think they are following the past of the fallen states of the United States. At least, the Koreans I met during the pandemic year still had passion. They might be busy fixating on the right answer they hope for.
Unfortunately, most successes without philosophy are like that.
US should be in the same boat actually. But not because they are replacing all low jobs with illegals and high jobs with immigrants.
When you have no natural resources, you hit the ceiling of development pretty fast. You need to keep developing new tech and product to keep growing and, but in the era where technology becomes comoditized quickly, it is becoming an impossible feat. China, the us, indonesia and russia maybe the only countries that can still grow 3 to 6% a year because of the natural resources they have, and the price of the natural resources are not getting lower due to their scarcities.
Koreas birth rate has fallen even further, which doesnt help.
6:05: "The population is shrinking rather than growing, and the labor force is shrinking along with it."
Korean Labor force:
2023: 29.6M
2022: 29.3M
2021: 28.8M
2020: 28.6M
2019: 28.8M
2018: 28.5M
The Korean labor force is at an all-time high, and since 2020 has been continually growing. Please state your source.
South Korea is not playing the regional political game properly, it keeps on pricking at China on several military fronts, not realizing that China is their nearest neighbor and a much larger population and the world’s 2nd largest economy. It just boggles my mind that SK’s leaders failed to realize that, in the long term, China will prevail. China can make or break SK, like also Taiwan, if push comes to shove.
SK is called a colony for good reasons.
@@bengong4383 some Koreans know but the system is towards US as SK government is governed by US as it was made. Korea should grow a pair and use US and China to take advantage.
China will never prevail. All other countries has their own problems. We can settle wisely as we did before.
Bcoz everyone knows china is a bully, an expansionist state, a country lead by a person akin to hitler. China wants to expand its territories all over the world. China is seen as an evil country
Whilst allying with the US has plenty of disadvantages there's a reason why China has pretty much no real allies to speak of. China works for China alone and tries to rip you off every step of the way. Not to mention China isn't doing too well at all currently. China also wouldn't be the first nation to collapse in on itself trying and failing to bully a smaller nation.
A part of the problem is that once countries develop, nobody wants to do physical labor, and everyone only wants high paying easy jobs.
It's a country of food consumer negative. If every working class and people eat at home and can't afford to eat out. The food industry is depressive and its rippling food related sector spending that fuel a country's economy. Food generally is expensive. The tourism industry not catering to Asian tourist economy. Hotel cost is so expensive in the cities US$100 up a night for asians RM$430, whereas in Malaysia you can get a decent hotel room at RM$100 (US$23.60) and abundance of budget hotels catering to every budget conscious tourists. Land is expensive and scarcity makes commoners can't afford to own budget hotels.
What do you mean? Go to similar gdp countries in the West. Eating out in Korea is super super cheap.
S Korea is one of the cheapest places to eat out... you can even deliver food home which is cheaper than almost every western country. And Korea/Seoul is pretty cheap to live in... problem is everyone wants to live like a star. You can get decent places for $400 a month in Seoul... just stay away from posh neighborhoods. Or live in a different city.
@@wendyshoowaiching4161 your comment is what people who are online all the time will say
Korea is cheap to eat out compared to other developed countries 😂😂😂
This is such a helpful video! As an American, I knew the one-sentence summary about chaebols, but I wanted a deeper explanation. Thank you!
Still better than Germany so I wouldn’t worry
Germany is doing fine, don't listen to the cyberbullying out there, it's only gossip! Germany is still the first economy in Europe and the third in the world! They are perfectly capable of overcoming any crisis and come out straight and clean, as their history shows over and over again!
유튜브 한국 경제 관련 영상을 찾아보면 한국의 부정적인 미래를 다루는 영상이 다수임 뭐 실제로 한국이 어렵기도 하고 그런데 한국의 과거 한강의 기적을 다룬 영상은 거의 찾아보기 힘듬 결국 한국 망하는꼴 보고싶어서 제사지내는 애들이 다수라는거임 으이구 심보를 곱게써야 느그 나라들도 잘되는거지
There are many videos about the economic miracle of South Korea. The miracle is ending, the same way it has ended for Japan in the 90s. Now it is time to do reforms, incentivise start ups, push english to become more popular, get skilled immigrants, and most important build more houses to reduce their price.
@@Zelielz1 I wish for Korea's continued success and, with that in mind, I agree with your comment. The model that made Korea a developed country is not that useful anymore and so deep reforms are needed in politics, society and culture (so it will require years). At least they are a rich country with still some time (though decreasing, yes) to maneuver. I mean, there are other countries with demographic crises that are not still developed.
結局韓国のインフラは日本が作ったし、奇跡と言われる発展も日本が支援したからなのを韓国人は知らない。勘日の通貨スワップも日本には何のメリットもない。韓国人が独力で成し遂げた事など何かあっただろうか。
당연한거야 대다수 개발도상국인 아시아국가들 입장에선 후진국에서 선진국으로까지 발돋음한 한국이란 나라가 선망의 대상이자 질투의 대상이기도 하고 유럽의 선진국가들입장에선 그들과 거의 모든 부문에서 경쟁하는 국가니까 한국이 망하는 꼴을 보고 싶은 속내가 있는거지
예를들어 요즘은 좀 뜸한데 k pop 이 한참 전세계로 뻗어나갈때 유독 해외언론에서 k pop의 어두운 부분에 집중하면서 보도한 기사들이 많았었지 한마디로 부러우면서도 질투심을 가지게 된거지
근데 걱정할 필욘 없다고 본다 모든건 결과가 말해주니까...한국경제가 죽었니 내리막길이나 어쩌니 해도 올해만 봐도 수출실적도 좋고 경제성장률도 괜찮게 나올거 같거든
단하나 걱정되는건 날이 갈수록 떨어지는 출산율 정도지만
앞으로 전기차 산업, 신재생 에너지, 소형 원자로, 국방 분야에서 한국한테 일정 지분을 빼앗길 생각하니 이런 저주에 가까운 뉴스를 퍼트리는 거 같습니다.
Grandfather pulled the buffalo, father sat on the buffalo, children eat the buffalo
Utter BS. South Korean marketshare in semiconductors is 60% and they make the most advanced HBM chips today. They use up to 70% robots in their manufacturing - again top of the world by wide margin. They have no one to imitate from and the gap with second best is ever widening. Total crap video.
You can replace workers with machines But machines cannot be consumers .
How can the Japanese government grow the economy if 800,000 consumers are Disappear every year?
한국은 어차피 수출 위주의 경제입니다 소비자는 해외에 있죠
@@fislen-e1dbut you treat other people, your customers, like trash and we are now aware 😂
It is now time for South East Asian Nations
Ke depan ekonomi korea tidak dapat bertahan kerana kalah bersaing dari segi kualiti, kecanggihan dan harga iaitu made in China💪💪💪
A problem with capitalism. When you hit a ceiling for economic growth things go stale and bad. We don’t have any parallel or backup system to help us maintain a steady state existence with high quality living… collapse is the only realistic scenario
We'll eventually return to religious patriarchal society with spirituality and family priority over materialism amd hedonism.
The question is will it be through catastrophic collapse or conscious evolution? I guess it will depend on specific countries and societies
Main reason above all is the change of economical environment of the world. Once friendly and affirmative with the growth of Korean economy so that less odds and difficulties was expected in the global marcket for us are now drastically changed due to the rise of chyna that violating so many good environment of the world market in so many cheating ways. That thing has built strong trade barriers with developed countries who has been long costumers of korean products but decoupled from all export driven growing countries like us, in fear of surging chyna's dirty plays in global market. Overall the root cause of decline in our economy stems from chyna's so many dirty plays to have violated and destroyed the sound environment of trade.
Aging the labor forces and declining population or lackluster enthusiasm of businessmen to success is next causes of the decline of our economy that also originated from the vicious effects of chyna's rise and derangement in world markets. Our decline is aligned with the fall of western society in terms of decreasing revenue from trade. The developed countries have been exploited their property to chyna by so many cheating ways that has prompted themselves to build walls against all export countries, and that's the main reason.
Let me make one thing clear, the global market was never good or kind, don't blame your own failure on China.
I agree that China has taken over a lot of Korea's electronics and auto market.