Names: conventional long form: Republic of Korea conventional short form: South Korea local long form: Taehan-min'guk local short form: Han'guk abbreviation: ROK

Capital City: Seoul

Population: 48,846,823 (July 2006 est.)

GDP Per Capita: $24,200 (2006 est.)

Currency: South Korean won (KRW)

Languages: Korean, English widely taught in junior high and high school

Total Area: total: 98,480 sq km land: 98,190 sq km water: 290 sq km slightly larger than Indiana

Region: Asia

Industries: electronics, telecommunications, automobile production, chemicals, shipbuilding, steel

Agriculture: rice, root crops, barley, vegetables, fruit; cattle, pigs, chickens, milk, eggs; fish

Resources: coal, tungsten, graphite, molybdenum, lead, hydropower potential

Labor Force: 23.88 million (2006 est.)
agriculture: 6.4% industry: 26.4% services: 67.2% (2005 est.)

Exports: $327.9 billion f.o.b. (2006 est.)
semiconductors, wireless telecommunications equipment, motor vehicles, computers, steel, ships, petrochemicals

Imports: $300.4 billion f.o.b. (2006 est.)
machinery, electronics and electronic equipment, oil, steel, transport equipment, organic chemicals, plastics

Overview: Since the 1960s, South Korea has achieved an incredible record of growth and integration into the high-tech modern world economy. Four decades ago, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies. Today its GDP per capita is equal to the lesser economies of the EU. This success was achieved by a system of close government/business ties, including directed credit, import restrictions, sponsorship of specific industries, and a strong labor effort. The government promoted the import of raw materials and technology at the expense of consumer goods and encouraged savings and investment over consumption. The Asian financial crisis of 1997-99 exposed longstanding weaknesses in South Korea's development model, including high debt/equity ratios, massive foreign borrowing, and an undisciplined financial sector. GDP plunged by 6.9% in 1998, then recovered 9.5% in 1999 and 8.5% in 2000. Growth fell back to 3.3% in 2001 because of the slowing global economy, falling exports, and the perception that much-needed corporate and financial reforms had stalled. Led by consumer spending and exports, growth in 2002 was an impressive 7%, despite anemic global growth. Between 2003 and 2006, growth moderated to about 4-5%. A downturn in consumer spending was offset by rapid export growth. Moderate inflation, low unemployment, an export surplus, and fairly equal distribution of income characterize this solid economy.

_{CIA World Book}

In 2007 Missouri exported $1,251,987,947 in goods to Korea, South. This ranks Korea, South 2^nd among the 223 international buyers of Missouri goods. Missouri exports to Korea, South decreased from the previous year by $394,523,685 a change of -22.96%. State exports to Korea, South have increased over the last 5 years by $1,137,000,724 a change of 988.80%. Missouri exports account for 9.33%. of all 2007 US exports to Korea, South.

Transportation Equipment at $1,008,350,169 was the largest export in 2007. The largest dollar gain was Minerals And Ores with an increase of $34,684,957 a 336.85% change. The biggest dollar loss was in Transportation Equipment with an decrease of $447,706,737 a -30.75% change.