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From the 1960s onwards, Korea’s economy developed rapidly which that astonished the world. Korea’s economic statistics make for impressive reading : nominal GDP of ＄986 billion (15th), purchasing power parity GDP of ＄1,457 billion (12th), per capita GDP of ＄29,791 billion (26th), GDP growth rate of 6.1%, exports worth ＄366 billion (7th) and imports of ＄425 billion (9th)
In 2010, Korea ranked third in Deloitte’s 2010 Global Manufacturing index, a position which it is expected to retain for at least the next five years. It is the world’s sixth largest steel producer, accounts for over 50% of global ship production, and boasts strong global market shares in semiconductior ( DRAM 53%; NANA Flash 47% ) and displays ( LCD 52.5%; PDP 52.1%; OLED 80.2% ). Other industries, including automobiles and chemicals, are also highly competitive globally. The Korean government and private sector continue to invest heavily in tomorrow’s key growth industries.
Korea’s hosting of the world’s fifth G20 Summit Meeting in late 2010 underlined its growing global influence. in 2009, the country ranked 11th globally in terms or number of conferences held. Korea continues to underline its high global status through active involvement in a variety of global political, economic, cultural and sporting forums.
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