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The economy of South Korea is a highly developed mixed economy. [ 20][ 21][ 22] By nominal GDP, the economy was worth ₩2.24 quadrillion (US$1.72 trillion). It has the 4th largest economy in Asia and the 14th largest in the world as of 2024. [ 3]
The green-based economic strategy is a comprehensive overhaul of South Korea's economy, utilizing nearly two percent of the national GDP. The greening initiative includes such efforts as a nationwide bike network, solar and wind energy, lowering oil dependent vehicles, backing daylight saving time and extensive usage of environmentally friendly ...
Demographic features of the population of South Korea include population density, ethnicity, education level, health of the populace, economic status, religious affiliations, and other aspects of the population. The common language and especially race are viewed as important elements by South Koreans in terms of identity, more than citizenship.
Time zone: Korea Standard Time ( UTC+09) Extreme points of South Korea. High: Halla-san 1,950 m (6,398 ft) Low: Sea of Japan and Yellow Sea 0 m. Land boundaries: North Korea 238 km. Coastline: 2,413 km. Population of South Korea: 50,004,441 - 29th most populous country. Area of South Korea: 100,032 km 2. Atlas of South Korea.
South Korea's economy has experienced less short term growth in recent years. The GDP growth fell to 2.7 percent in 2018 relative to the 3.1 percent in the year prior. [ 20 ] The predictions for 2019 is that growth will slightly fall to 2.6 percent due to an expected increase in internal demands and a decline in external demands. [ 20 ]
The economy of East Asia comprises 1.6 billion people (20% of the world population) living in six different countries and regions. The region includes several of the world's largest and most prosperous economies: Taiwan, Japan, South Korea, China, Hong Kong, and Macau. It is home to some of the most economically dynamic places in the world ...
Globalization in South Korea started after the Asian Economic Crisis. The economic crisis during 1997–1998 had created economic regression in Asia, including South Korea. South Korea had a high debt-equity ratio followed by low profitability due to inconsistency in corporate governance, which was the major obstacle.
List of largest companies of South Korea. Corporate headquarter buildings of Big 4 Chaebol groups; Samsung, Hyundai Motors, SK, and LG (Clockwise from top left) This article lists the largest companies in South Korea in terms of their revenue, net profit, total assets and market value according to American business magazines Fortune and Forbes.