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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]
Trade policy of South Korea. 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 ...
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]
A comfort women rally in front of the Japanese Embassy in Seoul demanding compensation from the Japanese government in August 2011. Although the Japanese Ministry of Economy, Trade and Industry (METI) officially cites "undermined trust in the field of export control" as its reason to remove South Korea from the white list, [6] many external observers argued that current tensions more broadly ...
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. #
Nevertheless, by 2010, South Korea had become the world's third largest U.S. beef importer. With its strong import growth, South Korea surpassed Japan for the first time to become the largest market for U.S. beef in Asia; in 2016, U.S. beef imports in Korea reached a value of $1 billion. [32] [33]
In South Korea, the steel industry's GDP is 1.5 percent of all industries, and 4.9 percent of the manufacturing industry. In 2016, steel exports were $27.7 billion and imports were $19.4 billion. [4] As of 2021, POSCO was the world's seventh largest producer of steel. Hyundai Steel was the world's 18th largest producer of steel.
The country accounted for 60.5% of the global memory semiconductor market, with a DRAM market share of 70.5% and a NAND market share of 52.6%. South Korea is continuously focusing on R&D and investment to maintain its competitive advantage. In addition, South Korea is pushing to expand its foundry market share based on ultra-fine processing ...