Republic of Korea

Capital: Seoul                 HDI: 0.891 (15th)

Language: Korean           GDP (PPP): $1.781 trillion

Currency: South Korean Won

Population: ~ 49.1 million

South Korea has rapidly transformed into a high-income and advanced economy since the 1960s and has become the world’s 5th largest exporter. The country has also become one of the most fully developed democracies in East Asia in a short amount of time, and the government has put in tough protections for civil liberties. The economy is the 13th largest in the world and its economic stability allowed it avoid recession during the 2008-2009 economic crisis. South Korea excels at innovation; high-tech companies such as Samsung, Hyundai-Kia, and LG dominate the global market and R&D spending by the government is highest globally. The country has been ranked as the 4th easiest place to do business and has one of the most educated workforces in the world.





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