Korea: A Land Divided

1
Korea A Land Divided

• Economics

2
North Korea

• Official Name Democratic Peoples Republic of
  Korea (DPRK)
• The government of North Korea is secretive about
  its economic performance. They limit the
  information which is released both to their own
  population, as well as the outside world.
• A 2005 estimate of North Koreas GDP is 40
  billion.

3
Currency of North Korea

• Currency North Korean Won (KPW)
• Symbol ?
• As of November 17, 2006, 1 US Dollar is equal to
  2.20 KPW.
• 1 Won 100 jon
• There are three types of currency in North Korea.
• The first is local currency, which comes in
  banknotes and coins. (This money cannot be
  converted into foreign currency.)
• There are also two types of currency for use by
  foreigners.
• Foreigners exchanging hard currency receive
  banknotes, which are green for won and blue for
  jon.
• Foreigners exchanging nonconvertible' currency
  (such as countries in the former Communist block
  and the third world) receive banknotes, which are
  red for won and pink for jon.

4
South Korea

• Official Name Republic of Korea.
• Based on GDP, the economy of South Korea is the
  14th largest in the world. (http//en.wikipedia.or
  g/wiki/Economy_of_South_Korea)
• A 2005 estimate of South Koreas GDP is 1.101
  trillion.

5
Currency of South Korea

• Currency Won (KRW)
• Wons symbol 'W'
• As of November 17, 2006, 1 US Dollar is equal to
  940 W.

6
Resources of North Korea

• THE DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA (DPRK,
  or North Korea) possesses extensive economic
  resources.
• Natural resources
• The primary natural resources of North Korea are
  coal, lead, tungsten, zinc, graphite, magnesite,
  iron ore, copper, gold, pyrites, salt, fluorspar
  (a mineral), hydropower (water power).
• Agriculture
• The main agricultural products of North Korea
  include rice, corn, potatoes, soybeans, beans,
  cattle, pork, and eggs.

7
Industry of North Korea

• Land is owned collectively (as a group, rather
  than individually, the way it is in the United
  States).
• Industries are run by the government, rather than
  by private companies.
• The main industries in North Korea are
• military products
• machine building
• energy (electric power)
• natural resources
• agriculture.

8
Resources of South Korea

• The Republic of Korea (South Korea) possesses
  fewer natural resources than North Korea.
• Natural resources
• The primary natural resources of South Korea are
  coal, tungsten (a mineral), graphite (a
  mineral), molybdenum (a metal), lead, hydropower
  (water power).
• Agriculture
• Although not a large part of the economy, South
  Korea produces the following agricultural
  products rice, root crops, barley, vegetables,
  fruit, cattle, pigs, chickens, milk, eggs, and
  fish.

9
Industry of South Korea

• Unlike North Korea, in South Korea land is
  privately owned, and industries are run by
  private companies.
• The main industries in South Korea are
• electronics, automobile production, chemicals,
  shipbuilding, steel, textiles, clothing,
  footwear, food processing
• energy (hydropower/waterpower)
• service industries (such as insurance,
  restaurants, hotels, laundries, public bath
  houses, health-related services, and
  entertainment establishments)
• tourism (such as the 1988 Seoul Olympics).

10
North Korean Interdependence with Other Countries

• The main countries to which North Korea sends
  exports are China, Japan, and South Korea.
• The main countries from which North Korea
  receives imports are China, Thailand, Japan,
  Germany, South Korea, Vietnam, and Cuba.

11
South Korean Interdependence with Other Countries

• The main countries to which South Korea sends
  exports are China, Japan, and Hong Kong.
• The main countries from which South Korea
  receives imports are China, Japan, and Saudi
  Arabia.

12
Glossary

• GDP Gross Domestic Product. The GDP of a
  country is defined as the market value of all
  final goods and services produced within a
  country in a given period of time.
  http//en.wikipedia.org/wiki/Gross_Domestic_Produc
  t
• GDP consumption investment government
  spending (exports - imports)
• Hard currency a currency in which investors have
  confidence (such as US dollars).

13
Useful Links to Learn More about North Korea

• http//www.photius.com/countries/korea_north/econo
  my/index.html
• http//www.kimsoft.com/dprk.htm
• http//www.loc.gov/rr/international/asian/northkor
  ea/northkorea.html
• http//en.wikipedia.org/wiki/Economy_of_North_Kore
  a
• https//www.cia.gov/cia/publications/factbook/geos
  /kn.html
• http//www.nlgsolutions.com/packages/show_country.
  asp?countryidKP
• List of North Korean Companies
• http//en.wikipedia.org/wiki/List_of_North_Korean_
  companies
• Money conversion website
• http//coinmill.com/KPW_USD.html

14
Useful Links to Learn More about South Korea

• http//en.wikipedia.org/wiki/Economy_of_South_Kore
  a
• http//news.yahoo.com/s/ap/20061118/ap_on_re_as/bu
  sh
• https//www.cia.gov/cia/publications/factbook/geos
  /ks.htmlEcon
• http//www.nlgsolutions.com/packages/show_country.
  asp?countryidKR
• List of South Korean Companies
• http//en.wikipedia.org/wiki/List_of_South_Korean_
  companies
• Money conversion website
• http//coinmill.com/KrW_USD.html