When one travels to Korea, they will quickly find the level of customer service in stores and hotels exceptional. This is but one sign in the shifting economical landscape. This article provides insights into Korea's dramatic shift from its manufacturing-based economy of the 1960s, 1970s, 1980s, and 1990s.
SEOUL, Aug. 14 (Yonhap) -- A stronger Won against the [the U.S.] greenback has proven to boost employment in South Korea by expanding hiring in the service sector, a report from the central bank showed Monday. [ The strong Won means it costs more for Korean made goods in the U.S.]
The South Korean economy has been transformed into a service-oriented one in the aftermath of the Asian financial crisis, said Chang Dong-koo from the Bank of Korea's Institute for Monetary and Economic Research.
Therefore, the positive impact of the stronger Won on the service industry offsets its the negative influence on exports.
[ as long as you don't work in electronics (Samsung, LG, etc), or car production (Hyundai, Kia, etc), that is...]
As of the end of 2005, the number of employees in the service segment accounted for 65.2 percent of the nation's total employment, over three times more than that in the manufacturing sector with 18.5 percent, the report said.
BTW I not sure many Korean in their 20s long for a job in the service sector....working at Lotte Hotel, Starbucks, Shinsaegae Department Store was not what many had in mind while in college...
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