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HRI Gives Optimistic Economic Outlook for New Year

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2012-01-23

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The Seoul-based Hyundai Research Institute says it is optimistic about the country's economy this year‚ citing the fact that a growing number of Korean-made products have been sweeping the global market.
The number of Korean products topping the ranking of global market share has nearly tripled in eight years‚ totaling over 1-hundred-30 in 2010.
Referring to Japan's leap to become an advanced economy with world's best products in the 1970s‚ the institute says similar trends will help Korea further cement its status as a developed nation.
Researchers also note the rapid growth of the country's medical industries‚ which now make up 1.6 percent of gross domestic product.
The medical tourism industry‚ largely focusing on cosmetic operations‚ is forecast to bring in 300-thousand overseas tourists in three years time.
The global expansion of Korean pop culture‚ better known as the "Korean Wave‚" and the upcoming Yeosu Expo will also likely help the domestic tourism industry see a double-digit growth in the number of foreign tourists this year.
A possible thawing of inter-Korean relations with the anticipated resumption of the six-party denuclearization talks‚ as well as the new leadership in North Korea‚ is another factor raising hope for the year's economic activities.
Choi You-sun‚ Arirang News.
Reporter : yschoi@arirang.co.kr

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