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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
Southeast Asia is an important player in the hydrocarbon industry, being home to a tenth of the world’s natural gas reserves and nearly 3% of the global oil reserves. The region’s share in global natural gas production stood at 16.5% in ...
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Asia enjoys excellent positions in the global automotive market, as it is among the world’s largest vehicle producers and consumers. Six Asian countries – China, India, South Korea, Thailand, Malaysia, and Indonesia – accounted for ...
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The gross value added (GVA) of South Korea’s construction sector accounted for 1.4% of the world construction GVA in 2015, and for 3.2% of that of the Asia-Pacific region’s construction industry. In 2015, the sector generated 5.1% of ...
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The agricultural and fishing sector in South Korea contributed 1.97% to the country’s GDP in 2015. The farming population in Korea in 2015 was 2.6 million people, or 5.1% of the total population. The cultivation subsector provided 70% of the ...
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Transportation is a pillar of the South Korean economy and is among the most developed in the world. Over the past decade, the industry has grown rapidly, driven by public investment in infrastructure and incentives for attracting private investment ...
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