SOUTH KOREA: Shaping a New Era...
Data Page
In Seoul's Namdaemun Market, South Korean vendors sell everything from jade, to jars, to ginseng — just as they've done for 600 years. The market's long history is an apt symbol for the country's perseverance. At the end of the Korean Conflict (1950-53), it was one of the poorest nations anywhere. Today, it is one of the world's leading high-tech economies. During Asia's economic crisis in 1998, South Korea's foreign reserves (strong foreign currencies, kept on hand for such crises) almost bottomed out. By early 2007, they were hovering near $240 billion!
Here's a profile of South Korea today:
| Area | 38,023 sq mi (slightly larger than Indiana) |
| Population | 48,847,000 (July 2006) |
| Urban | 81% (more than 20% live in Seoul, the capital city) |
| Major Languages | Korean (official), English |
| Major Religions | Among South Koreans who profess a specific religious affiliation, 48% are Christian and 48% are Buddhist. Confucian values are widespread. |
| Government | Constitutional republic with president, unicameral legislature |
| GDP* | $1.18 trillion |
| Inflation | 2.2% |
| Sources of GDP | Farming 3%, Industry 45%, Services 52% (2006) |
| Key Products | Electronics, telecommunications, cars, chemicals, ships, steel |
| Exports | $326 billion |
| Imports | $309.3 billion |
| Trading Partners | China, Japan, USA, EU (2005) |
Sources: CIA World Factbook 2007.
Data are for 2006, unless otherwise noted.
* South Korea's gross domestic product (GDP) is reported in terms of its
purchasing-power parity (ppp). That's the dollar value of the
universal "basket" of goods and services that South Korea's
GDP earnings could buy (within South Korea, at local prices).
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© Learning Enrichment, Inc. Content last updated: April 2007. Page last reviewed: April 2007.