Q: To what extent is South Korea affected by shocks in the global economy?
A: To answer this question, you have to look at how Korea is trading with the rest of the world. Until a decade ago, the US was the number one trading partner with Korea, and Japan and Europe were our other major trading partners. Now, however, the situation is quite different, as we have diversified. China has become our number one trading partner, number two is the Association of South-east Asian Nations, third is Japan, fourth is the EU, which is followed by the US and Latin America.
