Korean Economy
North Korea (Democratic People's Republic of Korea)
The North Korean currency is won. One United States dollar is worth about 135 North Korean won. Their major imports are oil, grain, textiles, and machinery. Their major exports are minerals, metallurgical products, manufactures (which includes armaments), textiles, and fishing products. Their landscape effects their economy in the way that they produce a lot of minerals and metals. North Korea has gone through a large shortage of food, due to severe flooding. The government allowed private farming and increased the range of products private markets could sell.
North Korea (Democratic People's Republic of Korea)
The North Korean currency is won. One United States dollar is worth about 135 North Korean won. Their major imports are oil, grain, textiles, and machinery. Their major exports are minerals, metallurgical products, manufactures (which includes armaments), textiles, and fishing products. Their landscape effects their economy in the way that they produce a lot of minerals and metals. North Korea has gone through a large shortage of food, due to severe flooding. The government allowed private farming and increased the range of products private markets could sell.
South Korea (Republic of Korea)
South Korea uses won also. One United States dollar is worth about 1.12 South Korean won. Their major exports are semiconductors, wireless telecommunications equipment, motor vehicles, computers, ships, steel, and petrochemicals. Their major imports are machinery, electronics, electronic equipment, oil, transport equipment, steel, plastics and organic chemicals. Their landscape contains coal, lead, hydropower potential, graphite, tungsten and molybdenum, which effects their economy by allowing them to produce minerals, and if they tap into their hyrdopower potential, they could produce more electricity. The South Korean economy has an effect on their history because after the Asian financial crisis of 1997-1998, they started several economic reforms.
South Korea uses won also. One United States dollar is worth about 1.12 South Korean won. Their major exports are semiconductors, wireless telecommunications equipment, motor vehicles, computers, ships, steel, and petrochemicals. Their major imports are machinery, electronics, electronic equipment, oil, transport equipment, steel, plastics and organic chemicals. Their landscape contains coal, lead, hydropower potential, graphite, tungsten and molybdenum, which effects their economy by allowing them to produce minerals, and if they tap into their hyrdopower potential, they could produce more electricity. The South Korean economy has an effect on their history because after the Asian financial crisis of 1997-1998, they started several economic reforms.
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