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South Korea's Automotive Industry
The South Korean Automotive industry continues to increase it's market share. In 2004, South Korea joined the trillion dollar club of world economies, and currently is among the world's twenty largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The South Korean economy's long term challenges include a rapidly aging population, inflexible labor market, and overdependence on manufacturing their automotive exports to drive economic growth. Source : Factbook
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