General

    **statistics based on most recent (2007) reports unless stated otherwise

    Country Name: Republic of Korea (South Korea)

    Location: Located at the crossroads of Northeast Asia, Korea lies between Japan,
    the Russian Far East, and China.

    Territory: 99,678 Sq. kilometers

    Capital City: Seoul

    Population: 48.86 million

    Median Age: 36.1 years

    Life Expectancy: Males – 75.7 years, Females – 82.4 years (as of 2006)

    Political System: Democracy; president elected to a single, 5-year term by direct
    popular vote

    Elections: Presidential election (every 5 years), National Assembly (every 4 years),
    Local Councils (every 4 years)

    Suffrage: Universal, at 19 years of age

    Currency: South Korean won : US $1 = 1039.00 won (as of 2006 second qtr.)

    Foreign Exchange Reserves: $262.2 billion (US)

    Gross Domestic Product: $969.9 billion

    GDP Growth Rate: 5.0%

    Per Capita GNI: $20,045 (US)

    Production: Services - 56.3%
                     Mining and Manufacturing – 28.8%
                     Construction – 9.2%
                     Agriculture, Forestry and Fishing – 3.3%
                     Electricity, Gas and Water Supply – 2.4%

    Major Products: Semiconductors, Automobiles, Ships, Mobile telecommunications
    equipment, Consumer electronics, Steel and chemicals

    Leading Companies: Samsung Electronics, Hyundai Motors, POSCO, LG electronics

    Science & Technology: Korea boasts the highest broadband subscription rate in the
    world (25.5 per 100 inhabitants) and one of the worlds most advanced mobile
    telecommunications infrastructures.

    Military Spending: 21.74 billion (won) or 2.6% of GDP


 Economy

    Korea has rapidly recovered from the economic storm that began in late 1997. The
    crisis which roiled markets all across Asia had threatened Korea's economic
    stability. With a strong resolve for reform, paired with the implementation of an IMF
    agreement, the Korean government was swift to make successful negotiations with
    foreign debt structuring programs.

    With the ultimate goal to overcome problems rooted in the past by creating a
    foundation suitable for an advanced economy, the nation has rebounded with a
    flourishing market—gaining remarkable and continual footholds in our world economy.
    Once known to be one of the poorest agrarian societies, Korea has undertaken vast
    economic developments since the 1960s. Within four decades, it has achieved what
    is known as the Miracle on the Han River —the economic transformation that
    marks a major turning point in Korea history.

    The radical change is the success of an outward-oriented development strategy that
    utilizes exports for primary economic growth. Major import items include raw
    industrial materials, such as: crude oil, natural minerals, and general consumer
    products along with electronic and transportation machinery.

    As a result, impressive figures report Korea's Gross Domestic Product (GDP) to have
    increased from $2.3 billion (US) to its current state of $969.9 billion, with the per
    capita GNI soaring to $20,045, from its previous $87.

    Establishing history as one of the fastest growing economies in the world, Korea
    strives to become a focal point of the powerful Asian economic bloc in the 21st
    century.