Attribute | Value |
---|---|
Geography | |
Area | 99,720 km² |
Continent | Asia |
Land area | 96,920 km² |
Water area | 2,800 km² |
Land boundaries | 237 km |
Border countries |
|
Coastline | 2,413 km |
Mean elevation | 282 m |
Lowest point | 0 m |
Highest point | 1,950 m |
People | |
Population | 51,835,110 |
Official languages | Add |
Religion | Protestant |
Government | |
Long country name | Republic of Korea |
Short country name | South Korea |
Long local name | Taehan-min'guk |
Short local name | Han'guk |
Former name | Add |
Government type | Presidential republic |
Capital | Seoul |
Economy | |
GDP (PPP) | 2,035,000,000,000 USD |
GDP (OER) | 1,540,000,000,000 USD |
GDP (real growth rate) | 3.1 % |
GDP - per capita (PPP) | 39,500 USD |
Gross national saving | 36.6 % of GDP |
Labor force | 27,750,000 |
Unemployment rate | 3.7 % |
Population below poverty line | 14.4 % |
Budget revenues | 357,100,000,000 USD |
Budget expenditures | 335,800,000,000 USD |
Military expenditures | 2.62 % of GDP |
Taxes and other revenues | 23.2 % of GDP |
Budget surplus or deficit | 1.4 % of GDP |
Public debt | 39.5 % of GDP |
Inflation rate | 1.9 % |
Central bank discount rate | 1.5 % |
Commercial bank prime lending rate | 3.48 % |
Stock of narrow money | 793,900,000,000 USD |
Stock of broad money | 793,900,000,000 USD |
Stock of domestic credit | 2,986,000,000,000 USD |
Market value of publicly traded shares | 1,305,000,000,000 USD |
Current account balance | 78,460,000,000 USD |
Exports | 577,400,000,000 USD |
Imports | 457,500,000,000 USD |
Reserves of foreign exchange and gold | 389,200,000,000 USD |
External debt | 384,600,000,000 USD |
National currency | South Korean won |
National currency (code) | KRW |
National currency (symbol) | ₩ |
National currency rate to USD | 1 |
An independent kingdom for much of its long history, Korea was occupied by Japan beginning in 1905 following the Russo-Japanese War. In 1910, Tokyo formally annexed the entire Peninsula. Korea regained its independence following Japan's surrender to the US in 1945. After World War II, a democratic government (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 (Democratic People's Republic of Korea, DPRK). During the Korean War (1950-53), US troops and UN forces fought alongside ROK soldiers to defend South Korea from a DPRK invasion supported by communist China and the Soviet Union. A 1953 armistice split the Peninsula along a demilitarized zone at about the 38th parallel. PARK Chung-hee took over leadership of the country in a 1961 coup. During his regime, from 1961 to 1979, South Korea achieved rapid economic growth, with per capita income rising to roughly 17 times the level of North Korea in 1979. South Korea held its first free presidential election under a revised democratic constitution in 1987, with former ROK Army general ROH Tae-woo winning a close race. In 1993, KIM Young-sam (1993-98) became the first civilian president of South Korea's new democratic era. President KIM Dae-jung (1998-2003) won the Nobel Peace Prize in 2000 for his contributions to South Korean democracy and his "Sunshine" policy of engagement with North Korea. President PARK Geun-hye, daughter of former ROK President PARK Chung-hee, took office in February 2013 as South Korea's first female leader. In December 2016, the National Assembly passed an impeachment motion against President PARK over her alleged involvement in a corruption and influence-peddling scandal, immediately suspending her presidential authorities. The impeachment was upheld in March 2017, triggering an early presidential election in May 2017 won by MOON Jae-in. South Korea hosted the Winter Olympic and Paralympic Games in February 2018, in which North Korea also participated. Discord with North Korea has permeated inter-Korean relations for much of the past decade, highlighted by the North's attacks on a South Korean ship and island in 2010, the exchange of artillery fire across the DMZ in 2015, and multiple nuclear and missile tests in 2016 and 2017. North Korea’s participation in the Winter Olympics, dispatch of a senior delegation to Seoul, and three inter-Korean summits in 2018 appear to have ushered in a temporary period of respite, buoyed by the historic US-DPRK summits in 2018 and 2019.