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South Korea - Coggle Diagram
South Korea
Economical
South Korea is famous for its spectacular rise from one of the poorest countries in the world to a developed, high-income country in just one generation
In 2008 , during the global financial crisis , the country maintained a stable economy and even experienced economic growth during the peak of the crisis.
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Political
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The politics of the Republic of Korea takes in place in the framework of a presidential representative democratic republic, whereby the President is the head of state, and of a multi-party system.
The liberal primacy of South Korea’s political landscape is not a fluke and may be a long-term phenomenon.
The principles are based on the sovereignty of the people, with all the authority of state emanating from its citizens: Separation of powers among the three branches of government, the rule of law, and the responsibility to promote citizens' welfare, and attainment of a peaceful unification of Korea.
Technological
The country has devoted special attention to technology development and innovation to promote growth, growing from a predominantly rural, agricultural nation into an urban, industrialized country
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Industrial Relations
Issues regarding organized labor are losing attention because of a steadily shrinking unionization rate, changing societal attitude toward labor unions, and the enactment of new and improved laws and regulations regarding employment relationships more broadly
Over the past few years, South Korea's labour relations has evolved due to globalization. The Korean government and other labour parties has been using international labour practices standards as a reference
The Korean government's strategic response to lack of job security and other labour issues was to form a tripartite partnership
Become more democratic in 1987. Was previously military government which decisions are made by leaders in Korea