The industrial economy of South Korea is significantly strong to this present day.
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Ever since the 1950’s, South Korea’s industry has been rapidly developing. Korea’s massive success in the economy has landed them the number 12 spot in the world’s economy and number 3 in Asia. The major industries that have helped South Korea strive are; ship building, automobile, construction, and electronics. The prior mentioned industries aren’t the only ones booming, tourism is also a major aspect of South Korea’s industry. In 2007, South Korea had 6.4 million visitors, which made it the 36th most visited country in the world. Ship building is one of South Koreas most major industries. As a matter of fact between the 1970s – 1980s South Korea was the leading producer of ships such as; oil tankers and oil drilling platforms. Furthermore, the automobile industry is another one of South Korea’s major industries; it was one of South Koreas major growth and export industries in the 1980s. Finally, construction has been massive in South Korea’s industries since the 1960s; it is a vital source of foreign currency. These are only but a few industries that help make South Koreas economy as massive as it is.
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