That means that barring a 'massive' resurgence in infections, South Korea can wait and see how earlier measures play out, he explained. — Yen Nee Lee Mon, Aug 24 2020 6:38 PM EDT. Powered by Create your own unique website with customizable templates.

While the Ioniq 5 is just around the corner, the next member to arrive from Hyundai’s Ioniq family will be the Ioniq 6. Scheduled for 2022, our colleagues at Motor.es have created this rendering in order to give a more real and close to production image. What do you think?

What we know so far?

The first model of the IONIQ brand is the IONIQ 5 mid-size CUV, which is expected to be released earlier this year. The Ionic 5 is a concept EV ’45’ that Hyundai Motor Company unveiled to pay tribute to its first concept car at the International Motor Show (IAA) 2019 held in Frankfurt. The designers of Ioniq 5 took inspiration from the past and integrated them with state-of-the-art parametric pixels, a unique design element that modern designers will continue to incorporate into future Ionic models.

Hyundai Motor Company plans to introduce the Ioniq 6 Sedan based on the latest concept EV ‘Propechy’ launched in March, and the Ionic 6 Sedan in 2022 following the large SUV Ioniq 7 in early 2024. Percent’s iconic exterior design is characterized by a perfectly proportioned aerodynamic silhouette.

Likewise, the design of IONIQ vehicles has a common theme of ‘value without time’. This vehicle will draw inspiration from past models, but it will be a bridge to the future.

Hyundai Ioniq 5

The IONIQ 6 will also sits on the Electric Global Modular Platform known as E-GMP that offers fast charging and a rich driving range. If the Ioniq 5 already can drive 550 km, we expect that the Ioniq 6 could arrive to 650 or even 700km of range. (As the wheelbase will be longer, more cells could be added).

The dedicated EV platform will enable Hyundai to reimagine the vehicle interior as a “smart living space”, with unique features such as highly adjustable seats, wireless connectivity and drawers. The platform paradigm shift will be extended to the user interface. The user interface is simple, intuitive and ergonomically designed to help passengers feel comfortable.

So we can’t wait to see more about Ioniq’s proposal, first with the launch on Ioniq 5 in the coming weeks.

• Levels: AS, A Level
• Exam boards: AQA, Edexcel, OCR, IB

This study note covers aspects of growth and development in South Korea

South Korea is one of the most highly regarded countries in the world when it comes to sustained growth and development. In each of the last five decades, the average annual rate of growth has exceeded 5% and the economy is now an innovation-driven, high-income country of just under 49 million people with a total GDP in excess of $1 trillion and a per capita income of over $20,000 (PPP adjusted).

The South Korean economy accounts for 2% of world GDP and the economy is making progress in converging towards Japanese income levels. Some commentators have christened South Korea the “Germany of Asia'. Jim O'Neill, the creator of the BRICs acronym regards South Korea as a top nation in terms of sustained growth potential.

South Korea 2020 Kitsempty Spaces The Blog Template

• South Korea has an enviable record of macroeconomic stability – the economy was hit hard by the Asian Financial Markets Crisis of the late 1990s but this led to wide-ranging economic reforms and the aim of making the country more resilient to regional and global economic shocks
• The economy avoided recession in 2009 (one of only a small handful of advanced nations to do so)
• Recovery was strong in 2010 although it has slowed down since – averaging just over 3%. Keep in mind that the natural rate of growth for high-income countries tends to slow down – it becomes harder to sustain rapid percentage growth rates
• The economy continues to be driven forward to strong export performance and the share of national output taken up by manufacturing industry has risen – thus far South Korea has avoided the process of de-industrialisation, indeed her service sector is relatively weak by global standards
• Exports have held up well partly because the South Korea currency (the Won) has depreciated
• Both consumer price inflation and unemployment remain low
• The economy runs a current account surplus and the budget (fiscal) balance is strong – South Korean national debt is very low (less than 40% of GDP) – this provides a buffer if and when South Korea has to fund the costs of integrating a failing North Korean economy after re-unification
• One area of weakness is consumer debt - Korea's household debt to GDP ratio stands at about 80%, the highest in Asia and more than most OECD countries
• Is South Korea too export-dependent?

Competitiveness Indicators

One of the strengths of South Korea is her scores on a range of competitiveness indicators. The percentage of national income given over to research and development (R&D) has grown and a rising percentage of exports come from hi-technology products. South Korea has outpaced countries such as Taiwan in moving towards high value-added manufacturing products. The economy boasts some world class businesses including Samsung, Hyundai, LG and Kia Motors. Exports account for over 50% of GDP and two thirds of South Korean exports go to developing nations. Trade with China has grown rapidly.

The economy is relatively open for foreign trade and investment, but the South Korean economic model has not been built on free market principles. Much of the early growth was supported by import tariffs as part of an import substitution policy.

• Global competitiveness ranking for 2012: 24/142
• Infrastructure: 9/142
• Macroeconomic environment: 6/142
• Health and primary education: 15/142, Higher education and training: 17/142
• Technological readiness: 18/142, Market size: 11/142

In nearly every year since 1996 the annual increase in exports of goods and services has easily outpaced the growth of GDP – leading to a sustained rise in the share of exports in South Korean national income.

Human Development Progress for South Korea

• South Korea is ranked 15^th in the latest Human Development Index
• Life expectancy is high (80.6) and public expenditure on education and training high (>4% of GDP)
• The country is highly urbanised (83% of the population)
• Income and wealth inequality is low but it has been increasing in recent years.

Export Transition

A key development challenge for middle-income countries is to achieve a process of export transition away from lower value-added products towards goods and services that command higher premium prices in advanced nation markets. South Korea appears to have made this transition well – Samsung is a major competitor to Apple Inc for example – and exports to emerging countries are growing strongly

Unlike many middle income and newly established higher income countries, South Korea's manufacturing industry has seen a rising share of national income

South Korea and Regional Trade Agreements

Korea's integration in the world economy is still low in terms of import penetration, the share of foreign workers and the stock of inward FDI. Korea has taken steps to enhance its openness through free trade agreements (FTAs), including those with the EU and the United States. FTAs may also help boost the stock of inward FDI from its 2010 level of 13% of GDP, the third lowest in the OECD area. Moreover, FDI in services is only 6% of GDP in Korea compared with an OECD average of 37%.

South Korea and US Living Standards – An Example of Income Convergence

• Income convergence happens when a nation's per capita income (PPP adjusted) moves closer to that of another i.e. the gap in relative income per head decreases.
• The chart above presents GDP data for Taiwan, South Korea, China and India. The data is expressed as a percentage of the USA level – US per capita GDP usually increases each year so that for income coverage to take place, it is vital for country's to outpace the USA in terms of growth.
• South Korea and Taiwan have both escaped the middle-income trap – by the end of 2010 their per capita GDP levels were under two-thirds of the US level. China is making big strides – India too although to a less extent. Despite this, their income per capita remains a relatively small fraction of the US level.

Key Development Indicators for South Korea

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

• The Promise of Education in Indonesia

  18th November 2020

• Nature-Based Tourism in Laos

  30th September 2020

• Direct cash transfers and cutting extreme poverty in Yemen

  22nd September 2020

• Asia sees first regional economic recession in sixty years

  15th September 2020

• Coronavirus update: Decades of development progress are at risk

  29th July 2020

• Mauritius becomes Africa's 2nd High Income Country

  7th July 2020

• Development focus: Finding the 'invisible' millions who are not on maps

  6th July 2020

• How new roads in Timor-Leste bring hope to farmers and families

  26th June 2020

• COVID-19: the economic policy response [Year 13 Enrichment Task]

  1st June 2020

• Will coronavirus lead to fairer societies? [Year 13 Enrichment Task]

  14th May 2020

• Could Africa one day rival China?

  8th April 2020

• Global Economic Crisis: Calls for debt relief for the poorest countries

  8th April 2020

• The impact of conflict on long term development

  28th February 2020

• Rising obesity as a barrier to development

  9th February 2020

• New Economic Thinking: Inequality - The Bigger Picture

  4th February 2020

• New Economic Thinking: What is happening to Inequality Now?

  4th February 2020

• New Economic Thinking: Inequality - What is Happening?

  4th February 2020

• New Economic Thinking: Inequality - Why Should We Care?

  4th February 2020

• Indonesia’s Aspiring Middle Class

  30th January 2020

• The theft of national wealth from Angola

  23rd January 2020

South Korea 2020 Kitsempty Spaces The Blog Free

Online course

Mastering A-Level EconomicsQuantitative Skills

• 20-25 hours learning time
• 80 videos, downloads and activities

All A-Level Economics students.

South Korea 2020 Kitsempty Spaces The Blog -

• Edexcel A-Level Economics Study Companion for Theme 2

  • SKU: 02-4125-10990-01

  • Instant Download

  • School network license

  • £30.00

  Edexcel A-Level Economics Study Companion for Theme 2

  Edexcel A-Level Economics Study Companion for Theme 2

  • SKU: 02-4125-10990-01

  • Instant Download

  • £30.00

• Edexcel A-Level Economics Study Companion for Theme 4

  • SKU: 02-4125-10992-01

  • Instant Download

  • School network license

  • £30.00

  Edexcel A-Level Economics Study Companion for Theme 4

  Edexcel A-Level Economics Study Companion for Theme 4

  • SKU: 02-4125-10992-01

  • Instant Download

  • £30.00

Advertise your vacancies with tutor2u

South Korea 2020 Kitsempty Spaces The Blog 2017

Much cheaper & more effective than TES or the Guardian. Reach the audience you really want to apply for your teaching vacancy by posting directly to our website and related social media audiences.