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South Korea Country and Korean Film Industry - Essay Example

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This essay analyzes South Korea, that is a country with a population of 48 million people located on the southern part of the Korean Peninsula in East Asia. From the economic perspective, since 1960s South Korea has been one of the world’s most rapidly growing economies…
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South Korea Country and Korean Film Industry
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Download file to see previous pages Korea scores 7.37 out of 10 on Unit’s value index, with country’s majority indicators like sovereign risk, currency risk, banking risk, etc marked as BBB or BB, meaning not risky. From the critical perspective, this economic and political outlook does not look surprising given that South Korea has been for a long time one of the most advanced and promising countries of East Asia. Despite the recent world financial crisis that impacted almost every country and every economy, the prognosis on South Korean Real GDP growth is optimistic, changing from 0.2 in the year 2009 to 5.9 in the year 2010 (EIU, 2010). Given the overall stability of banking sector and national economy, consumer price inflation revolves steadily around 3% with slight deviations of 0.2-0.4 % (EIU, 2010).
Among other Eastern Asian political regimes, the South Korean democratic regime has been widely acknowledged in academic literature as one of the most successful (Shin et al., 2005). This position is widely rested on the various factors, particularly a peaceful transition from the authoritarian regime in 1987, the election opportunities and freedoms of citizens to choose the head of the executive and legislative branches of power during democratic elections, the existence of multiparty competition and adherence to basic human rights, freedoms, and values (Shin et al., 2005).
From the 1990s, South Korea film market has been continuously rated third in the word in terms of occupancy rate, an indicator for the percentage of domestically produced films demonstrated in a country. In terms of sales produced by theaters and home videos, South Korea market belongs to the top 10 world’s largest movie markets. According to the analysis provided by Kim and Doh (2006) during ten year period, from 1995 to 2005, South Korean film market grew 500% from $200 million to almost $1 billion (Kim & Doh, 2005, p.34) (see Figure 1). ...Download file to see next pagesRead More
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