Commentary
South Korea is an export-rich country.
Korean pop, more commonly referred to as K-pop, is perhaps its biggest export. A truly global phenomenon, groups like Blackpink and BTS, South Korea’s answer to The Beatles, have put the East Asian nation on the artistic map. Of course, South Korea exports much more than chart-topping music. It also exports semiconductors, automobiles, and refined petroleum.
Now, though, South Korea finds itself importing more than it exports. Its economy looks increasingly fragile. There are a number of reasons why South Korea is struggling. One of these reasons involves China, which poses a significant threat to South Korea’s economic well-being….