Contents

Korean Economy

Economic Implications for South Korea of the Current Transformation in the Middle East

Han, Baran(Author)

  • 355 ITEM VIEW
  • 0 DOWNLOAD
Abstract

In this article, I focus on the impacts on South Korea of the current transformation in the Middle East. South Korea is the world’s fifth-largest importer of oil, importing 98 percent of its oil for domestic use, 80 percent of which comes from the Middle East. Korea is a major exporter of automobiles, automobile parts, and consumer electronics to the Middle East and North Africa region, and the amount of exports has been steadily rising for the past 20 years. The Middle East is also Korea’s largest engineering, procurement, and construction market overseas, and, in turn, Korea is one of the top contractors there. Given such economic ties, how is the “Arab Spring” affecting the Korean economy? I first examine the close relationship between Korea and the Middle East and then analyze the short-term influences since January 2011. Then I attempt to forecast the longer-term consequences.

Issue Date
2011-08
Publisher
Korea Economic Institute or America
Pages
107
URL
http://keia.org/publication/economic-implications-south-korea-current-transformation-middle-east
Start Page
52
End Page
58
ISSN
1054-6944
Language
ENG
Files in This Item:
    There are no files associated with this item.

Click the button and follow the links to connect to the full text. (KDI CL members only)

qrcode

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.