The development of Korea’s service industry from a global historical perspective

Thanh Hoan Phan and Ji Young Jeong
Additional contact information
Thanh Hoan Phan: Chonbuk National University, South Korea
Ji Young Jeong: Chonbuk National University, South Korea

International Area Studies Review, 2013, vol. 16, issue 2, 184-205

Abstract: Korea’s economic structure has changed in a trend toward that of an advanced economy. Although the manufacturing sector has been dominating and a source of economic growth for a long period, there has been a recent shift toward the service industry. The sector’s share of both production output and employment is still rising. However, Korea’s service industry, despite its great significance in terms of employment and value-added, is not considered fully advanced. While its role is increasing, its economic share and rate of productivity growth is relatively slow compared with that of other countries. Thus, advancement of the service industry is essential in order to achieve a more prosperous economy. This paper presents the characteristics of Korea’s service industry and suggests strategies for its development.

Keywords: Advanced economy; global; knowledge-based service; Korea’s service; service industry; service productivity; strategy (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/2233865913486471 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:intare:v:16:y:2013:i:2:p:184-205

DOI: 10.1177/2233865913486471

Access Statistics for this article

More articles in International Area Studies Review from Center for International Area Studies, Hankuk University of Foreign Studies
Bibliographic data for series maintained by SAGE Publications ().