Report on Globalization of South-Korea and its relationship to the development of the cities

In South Korea, the impact of globalization is very high on the economy of the country. For any country, the globalization is the key to development. There is a huge different between the economic development of South Korea and North Korea, and the main factors are globalization. In this essay, there is a detailed discussion on the impact of globalization in South Korea and the way globalization influences in the cities. The comparison between South Korea and North Korea is also made in this paper to know about the globalization about both countries’ economies (Ranger, 2016).

 The globalization has influenced the economy of South Korean, and it has a major role in the development of the country. It looks like the globalization is a major aspect for the prosperity of South Korea. Certainly, South Korea become richer because of the economic policy depending on export participation and growth in the international economy. Since the 1960s, the globalization is a key feature that has pushed the growth of South Korea has been its major export importance that makes the growth of exports increased by 21 per cent yearly. Concerning technology, it can be said that the Samsung Company in South Korean plays major role in the globalization process of the country with companies all around the world. The Korean economists’ estimates, in 2010, Electronics of Samsung profit is nearly one-third of overall net income by the 3^rd major country corporations.

Globalization of South-Korea

South Korea is an example of global and regional incorporation. This country is a significant player in the integration process because of its effect on efforts and trade to indorse multilateralism. Now, South Korea contracted 8 free trade pacts with forty-five states and is exchanging 8 contracts with thirteen states, with China. The trade dealings of Korea with other countries comprise economic conglomerate mainly with the European Union and United States. Korea is also an associate of numerous global organizations, for example, World Trade Agreement, Asia-Pacific Economic Cooperation etc.  In past decades, the South Korea has revealed global integration and startling growth to be a high-technology industrial economy. In the early 90s, in some of the developed countries, the sector OF service has to turn out to be dominant in the economy, and it is around half GDP of Korea. In distinction, the free-market economy of Turkey is gradually driven by service and industry sectors, though its agriculture sector is responsible for about 24 per cent of employment in the country (Dixon, 2019).

Currently, South Korea is famous for its fast-economic development because of its centrally trade-oriented and planned economic strategies. Although its economy has undergone because of the current fiscal crisis and growth of progressing countries, for example, according to IMF in 2009, BRIC nations (Brazil, Russia, India, and China), South Korea is on the 15th major economy in the world. In a global society, South Korea has transformed its position rapidly in the financial sense. Though South Korea still faces a lot of challenges. It requires to increase its part in fulfilling are its global values, for example, environmental agreements participation and subsidizing support to developing countries. In accumulation, Once North Korea aggravates South Korea, the economy of the South Korean is immediately affected with a quick fall of the stock market.

Seeing the global standard issue, the economy of South Korea has to make a lot of efforts to be perfectly “globalized”. AT Kearny graded Korea on the 35th number for its index of globalization. The Transparency Institute, the Heritage Foundation and the World Bank also positioned Korea among 20th and 40th rank in similar catalogues. These are said to be the institutions note that Korea had too much guideline and a lot of interferences from the local and central governments. In addition to rule, there are a lot of NGOs that compete with globalization or domestic economy opening up, and some of the Koreans also have anti-globalization viewpoints.  It can also be seen that in many financial crises or foreign exchange disasters, including the globalization of Korea, requires to have arranged and efficient preparations and action plans. Instead, a method that is very conventional or too thoughtful will hamper the country ability to institute a strong process of globalization (BAJPAI, 2019).

Additional globalized industry impact on the South Korean market is the transparency that is a critical feature in modifying efforts to make more advanced and efficient nuclear weapons. This is not just a degree to guarantee that under IAEA safeguards, South Korea is transparent, but it is also the one in which the transparency norm is recognized in its nuclear industry in South Korea.

Globalization impact on cities

Many of the earlier globalization avoided in Korea except that its industrial development was pushed forward by the growth of the export. Recently, on the other hand, Korea has to undergo the globalization impacts on internal parameters of Korean cities and its economy: market opening, foreign direct investment, and trade liberalization. This has caused in intense problems regarding change as far as the economic structure is a concern (transition to services has perhaps very slow) and urban hierarchy (strengthening the cities, particularly the region of Seoul metropolitan). There are goals and opportunities, for example, to attract international actions (in culture and sports) and to shape Seoul as the land bridge connecting Japan and China. Though, the administration has not established a feasible trade-off among the diffusion policies intended at accomplishing stable regional development and understood spatial concerns (advancing the cities) of cooperative globalization in South Korea.

Many of the urban globalization studies have focused on "international cities" (for example, London, New York, Tokyo, Paris) that have an impact on what is happening in the world. In distinction, this study looks at cities at getting the end of globalization forces. The development of the cities in South Korea is the significances of the globalization have 2 edges, positive and negative. The previous comprises the urbanization megacity development that have been producing the issues that no government has contract with them effectively. The failure of city financial base that was controlled by nontrade service industries and labor concentrated export sector that a new financial base has not arisen. It can be said that Korea is a country, in which the urbanization speed possibly exceptional, as specified by a shrill growth of urbanization from 39 to 91% in 4 decades.

The rapid Korean urbanization was possible mostly due to a severe variation in its financial structure from an agricultural budget to a manufacturing economy: in 1960, there is 80 % of the labor strength engaged in agriculture sector, but in 1996 it dropped to 12%. In 1960, national product per capita gross was below $100, with the sector of agriculture office for 45 % of GDP. The overall value of exports responsible for 1.5 per cent of the GDP. In accumulation, In Korea, some of the large cities so often access to world via technology and information are formerly dispersed. So it can be said that the global connections of the cities are a significant value. In the early 1990s, although the population of Seoul's instigated to decrease in complete terms, its main economic position is not tested. Urbanization economies or localization economies are a significant feature in clarifying the large cities dominance and development by the globalization.

Comparisons between South Korea and North Korea

The nature of the relationship between North Korea and South Korea is bilateral between the Republic of Korea (South Korea) and North Korea (Democratic People's Republic of Korea). A single nation, formerly, annexed in 1910 by the Empire of Japan, since the World War II ended in 1945, the two nations, i.e. South Korean and North Korean have been divided, and the nations were engaged in the Korean War for consecutive three years, i.e. the period between 1950 and 1953. Kim dynasty runs North Korea that is considered as a one-party state. Formerly, one-party military dictatorships governed South Korea until 1987, and direct elections were held in this year. The entire Korean peninsula is claimed by both nations. In 1991, the United Nations was joined by both nations, and most of the member states recognised both nations. Informal diplomatic dialogues were started by both nations since the 1970s to ease tensions between their military. Kim Dae Jung, president of South Korea, in 2000, became the first president of the state who visited North Korea and it was after 55 years of division of the peninsula (Buzo, 2018).

In 2018, starting with the participation of North Korea in the Winter Olympics of 2018, a major diplomatic breakthrough was seen in the relationship between both nations that significantly became warmer. The Panmunjom Declaration for Peace was signed by two counties in April 2018. In 2018, the new relationship was approved by a majority of the South Korean people. Throughout 2017, a belligerent posture was continued by North Korea to be maintained, but the surprising avenue for dialogue was offered by South Korea in Winter Olympic Games of 2018 in Pyeongchang. Athletes of both nations together marched under a flag into the opening ceremonies by which Korean peninsula’s silhouette was depicted on a field of white. Kim Yo-Jong, sister of Kim, attended the Winter Olympic Games of 2018 and became a very first official representative of the ruling family of North Korea that entered South Korea since the Korean War’s end. A meeting was held on February 10, 2018, between President of South Korea Moon Jae-In and Kim Yo-Jong where a handwritten note was delivered by Kim Yo-Jong from her brother inviting President of South Korea in P’yŏngyang to visit him at the earliest date possible. Members of administration Moon, in March, travelled to meet with Kim Jong-Un in P’yŏngyang for an official dinner. The way for a historic meeting was paved by the event paved on April 27, 201, at the P’anmunjŏm’s true village between Kim and Moon. It became a milestone in the history that South Korean and North Korean leaders had a direct talk, and the Korean peninsula’s denuclearization was discussed by them along with an armistice conclusion by which the Korean war would be officially (Buzo, 2018).

On 26 May, a second meeting was held between Moon and Kim to discuss the upcoming summit of Kim with President of the United States, Donald Trump. The further meetings were led by the summit between officials of North Korea and South Korea during June 2019. South and North Korean officials agreed on June 1 to move forward with Red Cross and military talks, and they decided to reopen the office in Kaesong of Inter-Korean Liaison that was shut down in February 2016 by South Korea after nuclear test of North Korea. The second meeting was held at Mount Kumgang resort of North Korea on June 22 that involved red cross and military were resuming the family reunions was decided. In April, after the summit, a summit was held on 12 June 2018 between Kim Jong-un and Donald Trump in Singapore that was hailed as a success by South Korea (Buzo, 2018).

On June 2018, it was announced by South Korea that annual military exercises would not be conducted in September with the United States and its drills would also be stopped in the Yellow Sea so that North Korean would not be provoked and peaceful dialogue would not be distracted. On 1 July 2018, ship to ship radio communication was resumed between South Korean and North Korea so that accidental clashes could be prevented between military vessels of both nations in the West (Yellow) Sea around the NNL (Northern Limit Line). On 17 July 2018, the military communication line was fully restored by South Korea and North Korea on the peninsula’s western part (Kim, 2019).

In some of the events of the Asian Games of 2018, North and South Koreans competed as Korea. The relationships between two nations further prolonged to film industry, approval was given by South Korea to screen the movies of North Korea at the local festivals of the country, and several moviemakers were invited from a latter (Lee, 2019). The families’ reunion was divided in August 2018 since the time of the Korean War in North Korea. Kim at a summit in Pyongyang in September with Moon agreed to dismantle nuclear weapons facilities of North Koreas in the case if reciprocal action is taken by the United States. An agreement was signed by leaders of North Korea and South Korea in Pyongyang that is called "Pyongyang Joint Declaration of September 2018", the aim of the agreement was the removal of weapons, personnel, guard posts, and landmines from both sides of the borders of two countries in the JSA (Kim, 2019).

Furthermore, the nations also agreed that buffer zones would be established on both countries’ borders so that clashes could be prevented. Moon became the first leader of South Korea who gave a speech to the public of North Korea on 19 September at the Arirang Festival while addressing 150,000 spectators. Also, during the summit in September 2018, an agreement was signed by military leaders of both nations on non-aggression, reconciliation, corporation, and exchanges to make it sure that military tension in minimized between both nations along with greater arms control. Moon on October 23, 2018, ratified the Pyongyang Declaration and Basic Agreement just hours after the cabinet approved it. A train of South Korea, on November 30, 2018, crossed with North Korea into the DMZ border and stopped at Panmun Station, making it milestone in the history after 2008 (Kim, 2019).

Conclusion on Globalization of South-Korea and its relationship to the development of the cities

Summing up the discussion about the globalization of South Korea and the difference among South Korea and North Korea, it can be said that South Korea become richer because of the economic policy depending on export participation and growth in the international economy. This country is a significant player in the integration process because of its effect on efforts and trade to indorse multilateralism. The Korea has revealed global integration and startling growth to be a high-technology industrial economy. Korea had too much guideline and interferences from local and central governments. Korea has to undergo the globalization impacts on internal parameters of Korean cities and its economy: market opening, foreign direct investment, and trade liberalization. The administration has not established a feasible trade-off among the diffusion policies intended at accomplishing stable regional development and understood spatial concerns (advancing the cities) of cooperative globalization in South Korea. It can be said that Korea is a country, in which the urbanization speed may be exceptional, as specified by a shrill growth of the urbanization level from 39 to 91 per cent in 4 decades. In Korea, some of the large cities so often access to the world via new technology and information are previously dispersed. So it can be said that the global connections of cities are a significant value.

References of Globalization of South-Korea and its relationship to the development of the cities

BAJPAI, P. (2019). North Korean vs. South Korean Economies: What's the Difference? . Retrieved from

https://www.investopedia.com/articles/forex/040515/north-korean-vs-south-korean-economies.asp

Dixon, J. (2019). Korea’s embrace of globalization. Retrieved from http://www.koreatimes.co.kr/www/news/biz/2013/05/348_91475.html

Ranger, S. (2016). The Impact of Globalization on South Korea’s Nuclear Industry and its Strategic Choices . Retrieved from

https://ecipe.org/blog/the-impact-of-globalization-on-south-koreas-nuclear-industry-and-its-strategic-choices/

 Lee, H. (2019). Contemporary Korean Cinema: Identity, culture and politics.

Buzo, A. (2018). The Guerilla Dynasty: Politics and Leadership in North Korea. Routledge.

Kim, Y. (Ed.). (2019). South Korean Popular Culture and North Korea. Routledge.