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South Korea Information
South Korea is an export-driven economy on the Korean Peninsula. It was once unified with North Korea, but after a war in the 50s the countries have been divided. South Korea is a major economic power in the world, with strong manufacturing, finance, and service industries.
South Korea enjoys a high standard of living and quality of life. It is also one of the most scientifically and mathematically literate nations in the world. However, it has suffered a painful economic crisis of 1997, and is currently under strain from the 2008-2009 economic turmoil.
It is worth noting, however, that the 1997 Asian Financial Crisis led to widespread financial reforms which led to Korea being able to maintain growth, while others in Asia could not.
South Korea Fast Facts
South Korea is:
-The most wired country in the world with the highest broadband internet access in the world
-The 13th largest economy in the world
-The 4th largest economy in Asia
-One of the world's top 10 exporters
-A "high-income economy" according to the World Bank
-An "advanced economy" according to the CIA and IMF
-In the trillion-dollar club of global economies
Other facts
Nominal GDP: $981.9 billion, or 14th in the world (2007)
GDP (PPP): 1.312 trillion, also 14th in the world (2008)
GDP growth: 5.1% (2007)
GDP per capita: $27,100 (2008) This figure is comprable with New Zealand's (40 years ago it was as low as the poorest nations of Africa)
Population: 48,508,973 (2009)
Unemployment rate: 3.2% (2008)
Labor force: 24.35 million (2008)
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