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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's economy was one of the world's fastest-growing from the early 1960s to the late 1990s, and was still one of the fastest-growing developed countries in the 2000s, along with Hong Kong, Singapore and Taiwan, the other three Asian Tigers. [195] It recorded the fastest rise in average GDP per capita in the world between 1980 and 1990 ...
Additionally, Daegu was considered the third major economic city in Korea, after Seoul and Busan. However, due to the decline of the textile industry, which is the heart of Daegu's economy, the overall economic growth of the city has also fallen. Also, the city is the warmest region in South Korea due to the humid subtropical climate.
South Korea. (April 2024) Busan ( Korean : 부산, pronounced [pusan] ), officially Busan Metropolitan City, is South Korea 's second most populous city after Seoul, with a population of over 3.3 million inhabitants as of 2024. [ 4 ] Formerly romanized as Pusan, it is the economic, cultural and educational center of southeastern South Korea ...
This category has the following 19 subcategories, out of 19 total. Economy of South Korea by city (7 C) Economy of South Korea by province (3 C)
South Korean Won ( KRW) The unemployment rate in the Republic of Korea as of December 2021 is 3.7 percent. [1] Since its rapid globalization and democratization, the unemployment rate has been comparatively low compared to most OECD countries. This remains the case as of 2021. Being Asia’s fourth-largest economy, the country's booming exports ...
Agriculture in South Korea is a sector of the economy of South Korea. Korean agriculture is the basic industry of the Korean economy, consisting of farming, animal husbandry, forestry and fishing. At the time of its founding, Korea was a typical agricultural country, with more than 80% of the population engaged in agricultural production.
Economy of South Korea. Seoul, the capital of South Korea, is home to giant business groups such as Hyundai, SK, LG, Hanhwa, GS, KB, CJ and Samsung, ranking fifth in global city GDP and second in Asian city GDP. [ 5] The service sector accounts for the largest portion of the city's labor force. As the center of the country's finance, Seoul is ...