Korea Natural Resources - Less than a quarter of the republic's territory is cultivated. As the number of farms has declined, the share of national income derived from agriculture has fallen to a fraction of what it was in the early 1950s. Increasing agricultural productivity has long been hampered by the fact that fields are usually divided into small plots cultivated mainly by manual labor and livestock. In addition, the shrinking and aging rural population has led to a severe shortage of agricultural labor. Recently, however, productivity has been improving as more attention has been paid to mechanization, specialization, and commercialization.
Rice is the most important crop. A wide variety of fruits, including tangerines and other citrus fruits, pears, dates, and strawberries, along with vegetables (especially cabbage) and flowers grow in importance. Although it accounts for only a small portion of Korea's agricultural output, the country's ginseng is prized for its high quality and exported. Barley, wheat, soybeans and potatoes are also grown, but most of the country's needs for these products must be imported.
Korea Natural Resources
Animal husbandry and dairy farming are also important. The top three agricultural products, after rice, included pork, beef and milk. The number of livestock farms declined from 1990 to the beginning of the 21st century, even as production of dairy products and meat, especially pork, increased. During the same period, the consumption of meat and dairy products also increased.
We're Depleting Natural Wealth Faster Than Earth Can Replenish It
Since the 1970s, successful efforts have been made to restore previously deforested areas. Domestic production of wood, however, provides only a small part of the demand. Harvesting of wood, mainly conifers, is limited to the mountainous regions of Gangwon and North Gyeongsang Province. A large plywood industry based on imported wood has developed.
Fishing has long been important for the supply of protein-rich foods and has become a significant source of exports. South Korea has become one of the largest deep-sea fishing countries in the world. Coastal fisheries and inland aquaculture are also well developed.
South Korea's mineral resources are scarce. The most important reserves are anthracite coal, iron ore, graphite, gold, silver, tungsten, lead and zinc, which together account for about 2/3 of the total value of mineral reserves. Graphite and tungsten deposits are among the largest in the world. Most of the mining activity is focused on the extraction of coal and iron ore. All of the country's crude oil needs and most of its metal mineral needs (including iron ore) are met through imports.
Thermal electricity accounts for more than half of the electricity produced. Since the first refinery began producing petroleum products in 1964, power plants have gradually transitioned from coal to oil. Hydroelectricity makes up only a small part of the total electricity production. most of the stations are located along the Han River, not far from Seoul. However, nuclear power generation is becoming increasingly important.
North Korea Is Sitting On $6 Trillion In Mineral Resources
Textiles and other labor-intensive industries have lost their former dominance in the national economy, although they remain important, especially in the export trade. Heavy industry is highly developed, including chemical, metallurgical, engineering and oil refining. Even more capital-intensive and technology-intensive industries gained importance in the late 20th century, especially shipbuilding, motor vehicles, and electronic equipment. Special attention has been paid to high-tech industries such as electronics, bioengineering, and the aerospace industry, and the service sector has grown significantly. Increasing attention is paid to the development of information technologies and the promotion of venture capital investments. Most of the country's manufacturing is concentrated in Seoul and its surrounding region, while heavy industry is mainly located in the southeast; Among the recent enterprises, the concentration of steel producers in Pyongyang and Gwangyang, in the southeast of the country, is characteristic.
The official currency is the Korean won. The Bank of Korea, headquartered in Seoul, is the country's central bank, which issues currency and oversees all banking activities. All banks were nationalized in the early 1960s, but by the early 1990s they had largely returned to private ownership. Foreign banks have been allowed in South Korea since the 1960s, and in 1992 foreigners began trading on the Seoul Korea Stock Exchange.
South Korea has borrowed heavily from international financial markets to provide capital for its industrial expansion, but export success has enabled it to pay off much of its debt. However, the accumulation of a staggering amount of foreign debt and the overexpansion of industry by large conglomerates caused serious economic difficulties in the late 1990s. Government and business leaders have jointly implemented reforms such as external debt restructuring and an aid agreement with the International Monetary Fund to create a more stable economic structure.
The country has generally maintained a positive annual trade balance. Major imports are machinery, fossil fuels, manufactured goods, and raw materials such as textile fibers, metal ores, and scrap metal. Major exports include machinery, electronics, textiles, transportation equipment (particularly automobiles), clothing, and footwear. The main trading partners of South Korea are the USA, Japan, the countries of the Middle East, East and Southeast Asia.
Korea's Economic Development Experiences
About two-thirds of the workforce is employed in the service sector, which generates about three-fifths of gross domestic product. Tourism alone accounts for a significant portion of this amount each year. The majority of visitors come from other Asian countries, mainly from Japan and to a lesser extent from China, although there was also a notable number of tourists from the United States. Tourists are attracted to South Korea's many palaces and other historical landmarks, religious sites including Buddhist temples, and natural beauty. The growing international recognition of South Korea's popular culture - music, movies and TV dramas - has also attracted tourist interest.
North korea natural resources map, korea institute of geoscience and mineral resources, korea water resources corporation, resources of north korea, south korea resources, korea resources corporation, what resources does north korea have, south korea natural resources, north korea resources, korea resources, north korea natural resources, south korea natural resources map
0 Comments