Seoul
Economy of Seoul
In recent years the Republic of Korea has achieved what is widely acclaimed as an economic miracle. Indeed since embarking on a serious plan of economic development in 1962 Korea’s economy has grown at an impressive rate. Korea, for centuries a poor nation with an economy based on agriculture, has emerged in modern times as strongly industrialized nation with a large and wealthy middle-class. The key to this success was the adoption of an outward-looking development strategy with exports at its heart.
The manufacturing sector is one of the top employers in Seoul. The IT and electronics industries have been replacing such traditional sectors as the manufacture of textiles and clothes, machinery, and chemicals. Food processing, beverage production, and publishing and printing are also important to the local economy.
A number of world renowned companies such as Daewoo Corporation, Hyundai, Samsung and Kia Motors have their headquarters in Seoul. The Gross Regional Domestic Product of Seoul contributes to roughly a quarter of Korea’s national GDP.
Update 17/05/2010
Keep more of your money when transferring funds overseas!
If you want to move money abroad, from South Korea or to South Korea for example, Fexco provides efficient and secure global bank to bank transfers and bespoke payment solutions for both business and personal clients.
Why Fexco
Fexco provides a secure international money transfer service online or by telephone with bank beating fx rates and low fees. Specialises in high-value transfers.
Faster, cheaper, safer International money transfers.
Dedicated fx dealer who will oversee your transfer from start to finish
Make payments from anywhere with our secure online platform, PayDirect.
If you prefer the personal touch, then our payments team can be contacted by phone.
Main characteristics
Fexco will help you to keep your overseas money transfer costs to a minimum.
| Margin | 0.6% |
|---|---|
| Regulator | FCA |
| Fee | £10 < £5K or Free > £5k |
| Mini | £1K |
| Ccy | All (130 currencies, incl ‘exotics’) |
| Services | Repatriation of funds, Property, Regular payments, High Value payments, spot, online, telephone. |
Get an online quote today
When you are ready to make your transfer, John and his team will be available to help you with better rates and an unrivalled service to make sure your funds are delivered securely and speedily.
Do you have comments or personal information to communicate about this article? Add your comment.
Find links about overview / economy of Seoul and a lot more in The links of expatriation.
Find more definitions and general answers on expatriation issues in the Expat FAQ (Frequently Asked Questions).
Go to the Forum to talk more about economy of Seoul, overview.