How does south Korea make up for this lack of resources?

How does South Korea make up for its lack of natural resources?

South Korea is a small, mountainous country with limited natural resources. Some of the most important resources that South Korea lacks include coal, oil, natural gas, and iron ore.

South Korea has been able to make up for its lack of natural resources in several ways. First, the country has focused on developing its human resources. South Korea has a highly educated population, and the country has invested heavily in research and development. As a result, South Korea has become a world leader in many high-tech industries, including electronics, semiconductors, and automobiles.

Second, South Korea has also focused on developing its trade relations with other countries. South Korea is now a major exporter of goods and services, and the country has a strong trade surplus with many countries around the world.

Third, South Korea has also benefited from its strategic location in Northeast Asia. South Korea is located near some of the world's largest markets, including China, Japan, and Southeast Asia. This has given South Korea a competitive advantage in terms of accessing these markets.

Finally, South Korea has also been able to make up for its lack of natural resources by relying on foreign direct investment. South Korea has attracted a large amount of foreign direct investment, which has helped the country to develop its economy and create jobs.

South Korea's success in overcoming its lack of natural resources is a testament to the country's strong economy, skilled workforce, and strategic location. South Korea is now a major economic power, and the country is a model for other developing countries that are facing similar challenges.

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