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The economy of South Korea is a highly developed mixed economy. 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. South Korea is notable for its rapid economic development from an underdeveloped nation to a developed, high-income country in a few generations. This economic growth ...
Expenses. 3.5 billion (2023 est.) [2] All values, unless otherwise stated, are in US dollars. The economy of North Korea is a centrally planned economy, following Juche, where the role of market allocation schemes is limited, although increasing. [11] [12] As of 2024, North Korea continues its basic adherence to a centralized planned economy.
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, the OECD and the International Monetary Fund (IMF). The South Korean won has been converted to the international dollar using the IMF's Purchasing Power Parity conversion rate.
South Korea, [c] officially the Republic of Korea ( ROK ), [d] is a country in East Asia. It constitutes the southern part of the Korean Peninsula and borders North Korea along the Korean Demilitarized Zone; though it also claims the land border with China and Russia.
Economic inequality in South Korea. According to data from 2010, low-income earners (those earning 12 million won or less) make up 37.8% of South Korea's labour force. [1] Conversely, the highest income earners (those earning 100 million won or more) make up 1.4% of the labour force. [1]
Science & Technology. Hyundai Motor Group, one of the top three car brands in the world. LG Electronics, the No. 1 TV market player in the world. Samsung Electronics, the world's No. 1 smartphone market share as of 2022. SK Hynix, the world's fourth-largest chipmaker in sales as of 2023.
Costs for the stay at the facility are the responsibility of the individual and total 100,000 won (US$81) per day. 13 April: 2020 coronavirus pandemic in South Korea — It was reported that at least 116 individuals who were infected and later cleared of the virus had again tested positive.
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 ...