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Republic Of South Korea Impact US Interest

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BACKGROUND PAPER

ON

REPUBLIC OF KOREA

1. This background paper on the Republic of Korea (South Korea) will outline a few different domains for this country. This paper will discuss their economy as well as their education. Lastly, this paper will cover how the Republic of Korea impacts U.S. interests.

2. The Republic of South Korea’s economy has been building momentum the last several decades. Since the 1960s, the economy of South Korea has matured and grown over the last 50 years. During this time span, “South Korea transformed itself from a poor, agrarian society to one of the world’s most highly industrialized nations.”1 “In an effort to address the long-term challenges and sustain economic growth, the current government has prioritized structural reforms, deregulation, promotion of entrepreneurship and creative industries, and the competitiveness of small and medium enterprises.”2 These changes, along with being proactive, will continue to expand or at least sustain the economic growth in the Republic of South Korea. Because of the successes of recent time in South Korea, Standard & Poor (SP) raised Korea’s credit rating from A+ to AA-. Out of the list of total grades, this rating comes in at fourth from the top. South Korea has …show more content…

When discussing the education system in South Korea, it has picked up stature in recent years. Consequently, public relations between the United States and South Korea have enhanced the people-to-people ties, resulting in a strong bond. “South Korea, on a per capita basis, sends the highest number of students to the United States to study of any industrialized country. Educational exchanges include a vibrant Fulbright exchange program as well as the Work, English Study, and Travel (WEST) program that gives a diverse group of South Korean students the opportunity to learn more about the United States.”4 Therefore, this trust, along with the diversity, works wonders for international ties between the U.S. and Republic of

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