Korean GDP to Amount to $45,000 per capita by 2020
It is estimated that the Korean economic scale will be ranked as the tenth largest in the world by the year 2020, with prospects that Korean GDP will reach $45,000, at constant increases of 4.5%
In addition, the scale of trade, amounting to $1,400,000,000, will cover 4% (the 7th largest in the world) of the overall world trade market. In the case of the labor market, more than 3,600,000 positions will be created. The Korean Industrial Development Institute made these predictions during an international seminar entitled “Vision 2020 of Korean Industrial Development” on Jan. 19 in honor of its 30-year anniversary.
In regards to growth potential, the institute also predicted that there would be less languishing economic growth due to a slowdown of productive population and reduction of labor hours. More importantly, because constant domestic consumption is likely to enlarge employment opportunities, it will increase from 60% in 2004 to 67% in 2020.
In case of the rate of manufacturing market share, it is predicted that Korea will catch up with England and Italy by 2020, and Korea will maintain the largest market share in the shipbuilding area and the currently fourth largest market share in electronics. Semiconductors will jump over third place, and auto manufacturing will also keep its present seventh position.
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 / 입력시간: 2006. 01.20. 08:39
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