ExchangeRate.com Logo
Login | Register |  My Account |   |   |   |  Suggest XR to your friends Print this page
Exchange Rate Home >> Country Info >> Korea, South

   | Post | View
Select Country:
  Korea, South   
Introduction
Geography
People
Government
Economy
Communications
Transportation
Military
Transnational
Issues
  Introduction Back To Top

Background:
An independent Korean state or collection of states has existed almost continuously for several millennia. Between its initial unification in the 7th century - from three predecessor Korean states - until the 20th century, Korea existed as a single independent country. In 1905, following the Russo-Japanese War, Korea became a protectorate of imperial Japan, and in 1910 it was annexed as a colony. Korea regained its independence following Japan's surrender to the United States in 1945. After World War II, a Republic of Korea (ROK) was set up in the southern half of the Korean Peninsula while a Communist-style government was installed in the north (the DPRK). During the Korean War (1950-53), US troops and UN forces fought alongside soldiers from the ROK to defend South Korea from DPRK attacks supported by China and the Soviet Union. An armistice was signed in 1953, splitting the peninsula along a demilitarized zone at about the 38th parallel. Thereafter, South Korea achieved rapid economic growth with per capita income rising to roughly 14 times the level of North Korea. In 1993, KIM Young-sam became South Korea's first civilian president following 32 years of military rule. South Korea today is a fully functioning modern democracy. In June 2000, a historic first North-South summit took place between the South's President KIM Dae-jung and the North's leader KIM Jong Il. In October 2007, a second North-South summit took place between the South's President ROH Moo-hyun and the North Korean leader.

  Geography Back To Top

Freshwater withdrawal (domestic/industrial/agricultural):
total: 18.59 cu km/yr (36%/16%/48%)
per capita: 389 cu m/yr (2000)

Total renewable water resources:
69.7 cu km (1999)

Land boundaries:
total: 238 km
border countries: North Korea 238 km

Environment - international agreements:
party to: Antarctic-Environmental Protocol, Antarctic-Marine Living Resources, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling
signed, but not ratified: none of the selected agreements

Climate:
temperate, with rainfall heavier in summer than winter

Map references:
Asia

Geographic coordinates:
37 00 N, 127 30 E

Natural resources:
coal, tungsten, graphite, molybdenum, lead, hydropower potential

Elevation extremes:
lowest point: Sea of Japan 0 m
highest point: Halla-san 1,950 m

Terrain:
mostly hills and mountains; wide coastal plains in west and south

Geography - note:
strategic location on Korea Strait

Area:
total: 98,480 sq km
land: 98,190 sq km
water: 290 sq km

Location:
Eastern Asia, southern half of the Korean Peninsula bordering the Sea of Japan and the Yellow Sea

Coastline:
2,413 km

Area - comparative:
slightly larger than Indiana

Irrigated land:
8,780 sq km (2003)

Environment - current issues:
air pollution in large cities; acid rain; water pollution from the discharge of sewage and industrial effluents; drift net fishing

Maritime claims:
territorial sea: 12 nm; between 3 nm and 12 nm in the Korea Strait
contiguous zone: 24 nm
exclusive economic zone: 200 nm
continental shelf: not specified

Natural hazards:
occasional typhoons bring high winds and floods; low-level seismic activity common in southwest

Land use:
arable land: 16.58%
permanent crops: 2.01%
other: 81.41% (2005)

  People Back To Top

Total fertility rate:
1.2 children born/woman (2008 est.)

Sex ratio:
at birth: 1.08 male(s)/female
under 15 years: 1.11 male(s)/female
15-64 years: 1.04 male(s)/female
65 years and over: 0.66 male(s)/female
total population: 1 male(s)/female (2008 est.)

HIV/AIDS - adult prevalence rate:
less than 0.1% (2003 est.)

HIV/AIDS - people living with HIV/AIDS:
8,300 (2003 est.)

Life expectancy at birth:
total population: 78.64 years
male: 75.34 years
female: 82.17 years (2008 est.)

Literacy:
definition: age 15 and over can read and write
total population: 97.9%
male: 99.2%
female: 96.6% (2002)

Net migration rate:
NA (2008 est.)

Ethnic groups:
homogeneous (except for about 20,000 Chinese)

Median age:
total: 36.7 years
male: 35.5 years
female: 37.9 years (2008 est.)

Population:
48,379,392 (July 2008 est.)

Education expenditures:
4.6% of GDP (2004)

Population growth rate:
0.269% (2008 est.)

Languages:
Korean, English widely taught in junior high and high school

Death rate:
5.73 deaths/1,000 population (2008 est.)

Infant mortality rate:
total: 4.29 deaths/1,000 live births
male: 4.52 deaths/1,000 live births
female: 4.04 deaths/1,000 live births (2008 est.)

HIV/AIDS - deaths:
fewer than 200 (2003 est.)

School life expectancy (primary to tertiary education):
total: 17 years
male: 18 years
female: 15 years (2007)

Age structure:
0-14 years: 17.4% (male 4,431,315/female 4,004,810)
15-64 years: 72% (male 17,760,975/female 17,095,436)
65 years and over: 10.5% (male 2,030,931/female 3,055,925) (2008 est.)

Birth rate:
9.09 births/1,000 population (2008 est.)

Religions:
Christian 26.3% (Protestant 19.7%, Roman Catholic 6.6%), Buddhist 23.2%, other or unknown 1.3%, none 49.3% (1995 census)

Nationality:
noun: Korean(s)
adjective: Korean

  Government Back To Top

Diplomatic representation from the US:
chief of mission: Ambassador Kathleen STEPHENS
embassy: 32 Sejongno, Jongno-gu, Seoul 110-710
mailing address: US Embassy Seoul, APO AP 96205-5550
telephone: [82] (2) 397-4114
FAX: [82] (2) 738-8845

National holiday:
Liberation Day, 15 August (1945)

Suffrage:
19 years of age; universal

Government type:
republic

Political pressure groups and leaders:
Federation of Korean Industries; Federation of Korean Trade Unions; Korean Confederation of Trade Unions; Korean National Council of Churches; Korean Traders Association; Korean Veterans' Association; National Council of Labor Unions; National Democratic Alliance of Korea; National Federation of Farmers' Associations; National Federation of Student Associations

Diplomatic representation in the US:
chief of mission: Ambassador LEE Tae-sik
chancery: 2450 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 939-5600
FAX: [1] (202) 387-0205
consulate(s) general: Agana (Guam), Atlanta, Boston, Chicago, Honolulu, Houston, Los Angeles, New York, San Francisco, Seattle

International organization participation:
ADB, AfDB (nonregional members), APEC, APT, ARF, ASEAN (dialogue partner), Australia Group, BIS, CP, EAS, EBRD, FAO, G-20, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAIA, MIGA, NEA, NSG, OAS (observer), OECD, OPCW, OSCE (partner), PCA, PIF (partner), SAARC (observer), UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, UNMIL, UNMIS, UNMOGIP, UNOMIG, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO, ZC

Legislative branch:
unicameral National Assembly or Kukhoe (299 seats; 243 members elected in single-seat constituencies, 56 elected by proportional representation; to serve four-year terms)
elections: last held 9 April 2008 (next to be held in April 2012)
election results: percent of vote by party - NA; seats by party - GNP 172, UDP 83, LFP 20, Pro-Park Alliance 8, DLP 5, CKP 1, independents 9

Legal system:
combines elements of continental European civil law systems, Anglo-American law, and Chinese classical thought; has not accepted compulsory ICJ jurisdiction

Flag description:
white with a red (top) and blue yin-yang symbol in the center; there is a different black trigram from the ancient I Ching (Book of Changes) in each corner of the white field

Independence:
15 August 1945 (from Japan)

Country name (Goverment):
conventional long form: Republic of Korea
conventional short form: South Korea
local long form: Taehan-min'guk
local short form: Han'guk
abbreviation: ROK

Political parties and leaders:
Democratic Party or DP [CHUNG Sye-kyun] (formerly the United Democratic Party or UDP); Democratic Labor Party or DLP [KANG Ki-kabi]; Grand National Party or GNP [KANG Jae-sup]; Liberty Forward Party or LFP [LEE Hoi-chang]; Pro-Park Alliance or PPA [SUH Choung-won]; Renewal Korea Party or RKP [MOON Kook-hyun]

Capital:
name: Seoul
geographic coordinates: 37 33 N, 126 59 E
time difference: UTC+9 (14 hours ahead of Washington, DC during Standard Time)

Constitution:
17 July 1948; note - amended or rewritten nine times; current constitution approved on 29 October 1987

Executive branch:
chief of state: President LEE Myung-bak (since 25 February 2008)
head of government: Prime Minister HAN Seung-soo (since 29 February 2008)
cabinet: State Council appointed by the president on the prime minister's recommendation
elections: president elected by popular vote for a single five-year term; election last held 19 December 2007 (next to be held in December 2012); prime minister appointed by president with consent of National Assembly
election results: LEE Myung-bak elected president on 19 December 2007; percent of vote - LEE Myung-bak (GNP) 48.7%; CHUNG Dong-young (UNDP) 26.1%); LEE Hoi-chang (independent) 15.1; others 10.1%

Administrative divisions:
9 provinces (do, singular and plural) and 7 metropolitan cities (gwangyoksi, singular and plural)
provinces: Cheju-do, Cholla-bukto (North Cholla), Cholla-namdo (South Cholla), Ch'ungch'ong-bukto (North Ch'ungch'ong), Ch'ungch'ong-namdo (South Ch'ungch'ong), Kangwon-do, Kyonggi-do, Kyongsang-bukto (North Kyongsang), Kyongsang-namdo (South Kyongsang)
metropolitan cities: Inch'on-gwangyoksi (Inch'on), Kwangju-gwangyoksi (Kwangju), Pusan-gwangyoksi (Pusan), Soul-t'ukpyolsi (Seoul), Taegu-gwangyoksi (Taegu), Taejon-gwangyoksi (Taejon), Ulsan-gwangyoksi (Ulsan)

Judicial branch:
Supreme Court (justices appointed by the president with consent of National Assembly); Constitutional Court (justices appointed by the president based partly on nominations by National Assembly and Chief Justice of the court)

  Economy Back To Top

Exports - partners:
China 22.1%, US 12.4%, Japan 7.1%, Hong Kong 5% (2007)

Electricity - consumption:
368.6 billion kWh (2007)

Central bank discount rate:
3.25% (31 December 2007)

Electricity - imports:
0 kWh (2007 est.)

Current account balance:
-$19.88 billion (2008 est.)

Debt - external:
$250.4 billion (31 December 2008 est.)

Unemployment rate:
3.2% (2008 est.)

Oil - exports:
NA bbl/day

GDP - per capita (PPP):
$27,100 (2008 est.)

Investment (gross fixed):
27.7% of GDP (2008 est.)

Stock of domestic credit:
$1.061 trillion (31 December 2007)

GDP (purchasing power parity):
$1.312 trillion (2008 est.)

GDP (official exchange rate):
$953.5 billion (2008 est.)

Distribution of family income - Gini index:
35.1 (2006)

Exchange rates:
South Korean won (KRW) per US dollar - 1,101.7 (2008 est.), 929.2 (2007), 954.8 (2006), 1,024.1 (2005), 1,145.3 (2004)

GDP - real growth rate:
4.3% (2008 est.)

Stock of money:
$92.59 billion (31 December 2007)

Labor force:
24.34 million (2008 est.)

Imports - partners:
China 17.7%, Japan 15.8%, US 10.5%, Saudi Arabia 5.9% (2007)

Inflation rate (consumer prices):
5% (2008 est.)

GDP - composition by sector:
agriculture: 2.9%
industry: 39.4%
services: 57.7% (2008 est.)

Oil - imports:
2.41 million bbl/day (2006)

Exports:
$458.4 billion f.o.b. (2008 est.)

Natural gas - consumption:
34.83 billion cu m (2007 est.)

Currency (code):
South Korean won (KRW)

Economy - overview:
Since the 1960s, South Korea has achieved an incredible record of growth and integration into the high-tech modern world economy. Four decades ago, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies. In 2008, its GDP per capita was roughly the same as that of the Czech Republic and New Zealand. This success was achieved by a system of close government/business ties including directed credit, import restrictions, sponsorship of specific industries, and a strong labor effort. The government promoted the import of raw materials and technology at the expense of consumer goods and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios, massive foreign borrowing, and an undisciplined financial sector. GDP plunged by 6.9% in 1998, then recovered by 9% in 1999-2000. Growth fell back to 3.3% in 2001 because of the slowing global economy, falling exports, and the perception that much-needed corporate and financial reforms had stalled. Led by consumer spending and exports, growth in 2002 was an impressive 7% despite anemic global growth. Between 2003 and 2007, growth moderated to about 4-5% annually. A downturn in consumer spending was offset by rapid export growth. In 2008, inflation increased in the face of rising oil prices, while equity prices and the value of the won fell significantly as the economy slowed in the second half of 2008.

Economic aid - donor:
ODA, $455.3 million (2006)

Natural gas - exports:
0 cu m (2007 est.)

Imports - commodities:
machinery, electronics and electronic equipment, oil, steel, transport equipment, organic chemicals, plastics

Industries:
electronics, telecommunications, automobile production, chemicals, shipbuilding, steel

Electricity - exports:
0 kWh (2007 est.)

Population below poverty line:
15% (2003 est.)

Commercial bank prime lending rate:
6.55% (31 December 2007)

Stock of quasi money:
$541.7 billion (31 December 2007)

Electricity - production:
412.7 billion kWh (2007 est.)

Imports:
$459.9 billion f.o.b. (2008 est.)

Oil - proved reserves:
NA

Labor force - by occupation:
agriculture: 7.5%
industry: 17.3%
services: 75.2% (2007)

Natural gas - proved reserves:
0 cu m (1 January 2006 est.)

Reserves of foreign exchange and gold:
$231.2 billion (31 December 2008 est.)

Oil - consumption:
2.214 million bbl/day (2007 est.)

Stock of direct foreign investment - abroad:
$82.1 billion (2006)

Public debt:
27.2% of GDP (2008 est.)

Stock of direct foreign investment - at home:
$120.8 billion (2008 est.)

Market value of publicly traded shares:
$1.124 trillion (31 December 2007)

Currency code:
KRW

Household income or consumption by percentage share:
lowest 10%: 2.7%
highest 10%: 23.7% (2006 est.)

Exports - commodities:
semiconductors, wireless telecommunications equipment, motor vehicles, computers, steel, ships, petrochemicals

Economic aid - recipient:
$68.07 million (2004)

Electricity - production by source:
fossil fuel: 62.4%
hydro: 0.8%
nuclear: 36.6%
other: 0.2% (2001)

Natural gas - imports:
33.38 billion cu m (2007 est.)

Natural gas - production:
390 million cu m (2007 est.)

Budget:
revenues: $230.6 billion
expenditures: $221.8 billion (2008 est.)

Fiscal year:
calendar year

Oil - production:
20,970 bbl/day (2007 est.)

  Communications Back To Top

Internet users:
35.59 million (2007)

Telephones - main lines in use:
23.905 million (2007)

Televisions:
15.9 million (1997)

Internet country code:
.kr

Radio broadcast stations:
AM 61, FM 150, shortwave 2 (2005)

Radios:
47.5 million (2000)

Telephones - mobile cellular:
43.5 million (2007)

Television broadcast stations:
43 (plus 59 cable operators and 190 relay cable operators) (2005)

Telephone system:
general assessment: excellent domestic and international services featuring rapid incorporation of new technologies
domestic: combined fixed-line and mobile-cellular telephone subscribership exceeds 140 per 100 persons; rapid assimilation of a full range of telecommunications technologies leading to a boom in e-commerce
international: country code - 82; numerous submarine cables provide links throughout Asia, Australia, the Middle East, Europe, and US; satellite earth stations - 6 (3 Intelsat - 1 Pacific Ocean and 2 Indian Ocean; 3 Inmarsat - 1 Pacific Ocean and 2 Indian Ocean)

Internet Service Providers (ISPs):
11 (2000)

Internet hosts:
333,823 (2008)

  Transportation Back To Top

Waterways:
1,608 km (most navigable only by small craft) (2008)

Pipelines:
gas 1,482 km; refined products 827 km (2007)

Railways:
total: 3,472 km
standard gauge: 3,472 km 1.435-m gauge (1,342 km electrified) (2006)

Ports and terminals:
Inch'on, P'ohang, Pusan, Ulsan

Heliports:
536 (2007)

Merchant marine:
total: 812
by type: bulk carrier 212, cargo 226, carrier 2, chemical tanker 133, container 80, liquefied gas 33, passenger 5, passenger/cargo 26, petroleum tanker 61, refrigerated cargo 16, roll on/roll off 9, specialized tanker 4, vehicle carrier 5
foreign-owned: 31 (China 1, Japan 20, Norway 2, UK 1, US 7)
registered in other countries: 363 (Belize 1, Cambodia 22, China 1, Cyprus 1, Honduras 6, Hong Kong 3, Kiribati 2, Liberia 3, Malta 2, Marshall Islands 10, Mongolia 1, Netherlands 1, Panama 303, Russia 1, Singapore 3, Tuvalu 1, unknown 2) (2008)

Airports - with paved runways:
total: 68
over 3,047 m: 3
2,438 to 3,047 m: 21
1,524 to 2,437 m: 14
914 to 1,523 m: 11
under 914 m: 19 (2007)

Roadways:
total: 102,062 km
paved: 90,417 km (includes 3,103 km of expressways)
unpaved: 11,645 km (2006)

Airports - with unpaved runways:
total: 37
914 to 1,523 m: 3
under 914 m: 34 (2007)

Airports:
105 (2007)

  Military Back To Top

Military service age and obligation:
20-30 years of age for compulsory military service, with middle school education required; conscript service obligation - 24-28 months, depending on the military branch involved (to be reduced to 18 months beginning 2016); 18-26 years of age for voluntary military service; women, in service since 1950, admitted to 7 service branches, including infantry, but excluded from artillery, armor, anti-air, and chaplaincy corps; some 4,000 women serve as commissioned and noncommissioned officers, approx. 2.3% of all officers (2008)

Manpower available for military service:
males age 16-49: 13,691,809
females age 16-49: 13,029,859 (2008 est.)

Manpower fit for military service:
males age 16-49: 11,282,699
females age 16-49: 10,683,668 (2008 est.)

Military branches:
Republic of Korea Army, Navy (includes Marine Corps), Air Force (2008)

Manpower reaching militarily significant age annually:
male: 371,108
female: 325,408 (2008 est.)

Military expenditures:
2.7% of GDP (2006)

  Transnational Issues Back To Top

Disputes - international:
Military Demarcation Line within the 4-km wide Demilitarized Zone has separated North from South Korea since 1953; periodic incidents with North Korea in the Yellow Sea over the Northern Limiting Line, which South Korea claims as a maritime boundary; South Korea and Japan claim Liancourt Rocks (Dokdo/Take-shima), occupied by South Korea since 1954

Got something to say on this page? Feel free to post your comments ! Please limit your comments to discussions about the subject matter of the content. To report bugs or problems with the ExchangeRate.com web site, please use our contact form here. Thank You!

Quiz #3
  1. When looking at a map which country looks like a "boot"?
  Australia
  Italy
  Cuba
  United States
Content, information, data, material, services, or products comprising this web-site may not be published, broadcast, rewritten or redistributed without written permission from ExchangeRate.com Inc.. The information supplied by this web-site is believed to be accurate, but ExchangeRate.com Inc. does not warrant or guarantee such accuracy. Users are always advised to verify information with their financial and accounting advisors or with the appropriate government agencies before relying on any such information. Information contained in this web-site is intended for your personal, non-commercial use. All other uses are expressly unauthorized and prohibited to the maximum extent allowed by law.
Copyright © ExchangeRate.com Inc. 1998 - 2012