Korea, South : Country Review

Country Details
Largest Cities
City | Population |
---|---|
Incheon | 2,628,000 |
Pusan | 3,678,555 |
Seoul | 10,349,312 |
Country Images
Country Overview
SOUTH KOREA
In August 1948 the Republic of Korea (R.O.K.) was established, with Syngman Rhee as the first president. North Korean troops invaded the south in June 1950, starting the three-year Korean War. An armistice ended the war in 1953, but a permanent peace treaty has never been signed. In the following decades, South Korea experienced political turmoil under autocratic leadership. President Syngman Rhee was forced to resign in April 1960 following a student-led uprising. The leadership of President Chang Myon ended after only one year when Major General Park Chung-hee led a military coup. Park's rule, which resulted in tremendous economic growth and development but increasingly restricted political freedoms, ended with his assassination in 1979. Subsequently, a powerful group of military officers, led by Lieutenant General Chun Doo-hwan, declared martial law and took power. Throughout the Park and Chun eras, South Korea developed a vocal civil society that led to strong protests against authoritarian rule. Intensified pro-democracy activities ultimately forced political concessions by the government in 1987, including the restoration of direct presidential elections. In 1987, Roh Tae-woo, a former general, was elected president, but additional democratic advances during his tenure resulted in the 1992 election of a long-time pro-democracy activist Kim Young-sam, who became Korea's first civilian elected president in 32 years. The 1997 presidential election and peaceful transition of power marked another step forward in Korea's democratization when Kim Dae-jung, a life-long democracy and human rights activist, was elected from a major opposition party. The transition to an open, democratic system was further consolidated in the following years, although as of 2015, South Korea must grapple with the challenge of corruption.
Country Forecast
2015 | 2016 | 2017 | 2018 | 2019 | |
Real Gross Domestic Product (LCU billions 2005 base) | 1466787.857759 | 1508267.826054 | 1553834.857352 | 1599852.039801 | 1647180.369211 |
Real GDP Growth Rate (%) | 2.790087 | 2.827945 | 3.021149 | 2.961523 | 2.958294 |
Population, total (million) | 51.015000 | 51.246000 | 51.454000 | 51.663000 | 51.874000 |
Inflation, GDP Deflator (%) | 2.394807 | 1.807082 | 3.091292 | 1.470706 | 1.885263 |
Official Exchange Rate (LCU/$US) | 1131.157522 | 1160.433778 | 1136.816075 | 1137.398940 | 1142.654808 |
Total Foreign Exchange Reserves ($US billions) | 366.707255 | 370.154198 | 329.915829 | 345.837436 | 363.236244 |
Key Data
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Average Daily Temperature
January : | 30.10°F |
July : | 75.80°F |
Annual Rainfall : | 51.2" |
Boundaries
Korea, North | 238 km |
Ethnic Divisions
Koreans | 99.00 % |
Chinese | 1.00 % |
Religions
Christianity | 49.00 % |
Buddhism | 47.00 % |
Confucianism | 3.00 % |
Shamanist, Chondogyo, other | 1.00 % |
Country Indexes
Index | # | Index | # |
---|---|---|---|
Political Risk Index | 8 | Life Satisfaction | 193.33 |
Political Stability | 8.5 | Happy Planet | 44.4 |
Foreign Investment | 9 |
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