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Introduction to Korea

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Korea (2008)

Korea (2008)
Country Republic of Korea (ROK)
Capital Seoul
Territory 100,032 km2(as of the end of 2007)
Population 4,8600,000
Language Korean
Illiteracy 0% (people aged between 20 and 40)
Religion Buddhism 24%, Protestant 23%, Catholic 8%, Others 0.8%, None 44.2% (NSO, 2005)
Climate Continental climate with four distinct seasons
Time Difference GMT + 9 hours
Political System Democratic Republic, Presidential System
Economy The 15th largest economy in the world (by GDP), OECD member
Currency Won
Flagship
Industries
ICT, Electronics, Semiconductor, Automobile, Shipbuilding, Steel, Petrochemical, etc.

Major Economic Indicators

Major Economic Indicators
2003 2004 2005 2006 2007 2008
GDP (USD 100 mil.) 608 681 791 887 1,050 928
Real GDP Growth (%) 2.8 4.6 4.0 5.2 5.1 2.2
Per Capita Income (USD) 13,460 15,082 17,531 19,722 21,695 19,231
Export (USD 1 bil.) 194 254 284 325 371 422
Export (USD 1 bil.) 179 224 261 309 357 435
Current Account Balance (USD 1 bil.) 12 28 15 5 6 -6
Unemployment Rate (%) 3.6 3.7 3.7 3.5 3.2 3.2
CPI Growth (%) 3.5 3.6 2.8 2.2 2.5 4.7
National Bond Yield to Maturity
(three-year bond, %)
4.6 4.1 4.3 4.8 5.2 5.3
Foreign Exchange Reserve
(USD 1 bil.)
155 199 210 239 262 201
Exchange Rate
(Won-USD) 1,192 1,145 1,024 956 929 1,103
(Won-100Yen) 1,030 1,059 931 821 790 1,077
(Won-Euro) 1,348 1,423 1,274 1,199 1,273 1,607

Source: The Bank of Korea, Korea Customs Service

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