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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]
South Korea is the EU's tenth largest trade partner, and the EU has become South Korea's fourth largest export destination. EU trade with South Korea exceeded €90 billion in 2015 and has enjoyed an annual average growth rate of 9.8% between 2003 and 2013. [173]
This is a list of South Korean regions by GDP. All data are sourced from the latest regional statistics published by the South Korean Government, [1] the OECD and the International Monetary Fund (IMF). [2] [3] The South Korean won has been converted to the international dollar using the IMF's Purchasing Power Parity conversion rate.
Currently, South Korea has a total of 17 big cities. "Specific city" ( 특정시, 特定市) is an unofficial term for big city with municipal status. [citation needed] Due its legal status as an administrative city, Jeju City cannot be designated as a "big city" under the Local Autonomy Law, despite having an estimated population exceeding ...
The following is a list of the exports of South Korea. Data is for 2012, in millions of United States dollars, as reported by The Observatory of Economic Complexity. Currently the top twenty exports are listed. #
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.
This article is intended to give an overview of the trade policy of South Korea. In 1945 Korea was liberated from the Empire of Japan at the end of World War II. A destructive drought in 1958 forced Korea to import large amounts of food grains. In 1950, the Korean War (a war between the Republic of Korea and the Democratic People's Republic of ...
South Korea accounted for 0.7% of global trade in 1970, but by 2003 it went up to 2.5%. 50% of the Busan's manufacturing jobs are related to exports, and 83% of the country's exports are containerized, making Busan the country's largest container and general cargo port. Compared to the Port of Busan, Inchon port handles only 7% of containers.