South Korea's dependent economy
The south Korean economy is indeed a dependent economy and a modern version of a colonial economy. Lets briefly survey some facts.
South Korea's external debt is $370 billion dollars (or $7,400 per head of population and its internal debt is $319 billion dollars. South Korea's debts are actually much higher than at the
the time of the IMF bailout in 1998.
South Korea belongs to the imperialist controlled IMF , World Bank, World Trade Oganisation ,the G20 and APEC.
It is a number of shackling economic agreements with the US and recently conclude a so called "Free Trade Agreement ". South Korea is a playground for the transnational corporations of international monopoly capitalism. Here is a by no means exhaustive or list of foreign companies in south Korea.
Bank of America
J P Chase Morgan
Bank of New York
Johnson & Johnson
Jones Lang LaSalle
Tokyo-Mitsubishi UFJ bank
Sumitomo Mitsui Banking Corporation
Mizuho Corporate Bank
SC First Bank
Marks and Spencer
All these firms suck out billions out of south Korea every year and make the south Korean people becoming slaves of foreign Capitalists and its domestic cohorts.