Trends and Challenges of the Economic Development of the Republic of Korea in 2014

ERI FEB RAS	Issue's contents	RUS
	Regionalistica 2024 Volume 11 number 5 pages 77-95

Title of the article	Trends and Challenges of the Economic Development of the Republic of Korea in 2014–2023
Pages	77-95
Author	Kukla Marina Petrovna candidate of sciences (economics), associate professor FEFU Institute of Oriental Studies – School of Regional and International Studies 10, Ajax Bay, Russky Island, Vladivostok, Russia, 690922 This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0001-6245-7565
Abstract	The article analyzes the economic challenges faced by the Republic of Korea in the process of adapting its traditional export-oriented model to changing internal and external conditions: population aging, high inflation, the trade conflict with the United States, as well as the risks and state of the Chinese economy. The potential for a greater shift towards a model focused on domestic demand is primarily constrained by negative demographic factors. The author analyzes the dynamics of macroeconomic indicators in the Republic of Korea from 2014 to 2023 and concludes that, in order to ensure sustainable economic development, the South Korean government needs to address two key tasks: stimulate internal demand through lowering interest rates and increasing economic activity and diversify external economic ties to reduce dependence on its two main trading partners – the United States and China.
Code	339.97
DOI	10.14530/reg.2024.5.77
Keywords	Republic of Korea, socio-economic development, economic growth, exports, domestic demand
Download	2024-05.77.pdf
For citation	Kukla M.P. Trends and Challenges of the Economic Development of the Republic of Korea in 2014–2023. Regionalistica [Regionalistics]. 2024. Vol. 11. No. 5. Pp. 77–95. http://dx.doi.org/10.14530/reg.2024.5.77 (In Russian)
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