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South Korea, and especially its capital Seoul, represents an attractive combination of a modern metropolis and a rich history for the Slovak tourist. The city offers a contrast between futuristic architecture, technological innovations and traditional palaces or temples that reflect the thousand-year-old culture of the country. At the same time, Seoul is safe, well organized and accessible to tourists, which makes it a suitable destination even for less experienced travelers from Central Europe.
In addition to cultural monuments, South Korea also attracts with unique gastronomy, high-quality public transport and colorful city life. Visitors can explore local markets, modern shopping districts and peaceful parks right in the city center. For Slovaks, it is an opportunity to get to know a different Asian lifestyle, which is surprisingly comfortable and affordable at the same time.
She also went to Seoul reader Nikawhich immediately sent the prices from one of the cafes to the Koktejl.sk editorial office. “A cafe with a view like this in Seoul. We had two cafe lattes for 7,000 South Korean won, which is 4 euros. I double-checked to see if they made a mistake when it was so cheap.” she wrote and attached a picture of the board with the offer. PHOTO can be found in the gallery!
The image shows individual categories such as coffee, tea, signature drinks, lemonades, smoothies and milkshakes. The menu includes drink names in both Korean and English, along with prices that run into the thousands of Korean won. You can get an Americano at this cafe for 3000 KRW, which is about €1.74. Teas are also priced at approximately the same price and the most a customer will pay for original “signature” drinks, for which you will pay 7,000 won (4.05 euros).
The South Korean economy is losing steam
According to the April forecast of the Organization for Economic Co-operation and Development (OECD), the growth potential of the South Korean economy will fall to a record low in the fourth quarter of next year. According to the organization’s latest projection, South Korea’s growth potential will decrease to 1.52% from last year’s 1.92% and this year’s 1.71%.
South Korea’s economic growth potential has been weakening for more than a decade. Back in 2012, according to OECD data, the country had an economic growth potential of 3.63%. Growth potential refers to the possible increase in gross domestic product with full utilization of labor, capital and other resources without causing inflation.
In 2023, South Korea’s economic growth potential was only 0.03 percentage points (bps) less than that of the US. Next year, however, according to the OECD, South Korea’s potential for economic growth should be 0.38 percentage points weaker than that of America.
