South Korea Government and Politics
State and politics Reference: South Korea Flag Meaning After being governed by extra-military military regimes for just over a quarter of a century, South Korea has developed into a stable democracy and one of...
Tagged: South Korea
According to physicscat, South Korea is a country located in East Asia, bordered by China, Japan and North Korea. It has a population of over 50 million people and the official language is Korean. The currency is the South Korean Won (KRW). South Korea has one of the most developed economies in East Asia with an estimated GDP of $1.21 trillion USD in 2013. In 2013 South Korea was a highly industrialized country with a per capita income of $32,000 USD. The economy relied heavily on the export of electronics, cars and steel products as well as services such as banking and tourism. Despite its strong economy, poverty levels remained high at around 20%. Additionally, inequality levels were still high with the richest 10% of households controlling 52% of all wealth in 2013. In 2013 South Korea was still dealing with tensions between labor unions and employers which led to frequent strikes throughout that year. Additionally, there were ongoing tensions between North and South Korea which culminated in North Korea’s third nuclear test in February 2013. Despite these challenges South Korea continued to make progress towards peace and stability through its Sunshine Policy which aimed to improve relations between North and South Korea through economic cooperation. In 2014, South Korea was a country located in the eastern part of the Korean peninsula and bordered by North Korea, China and Japan. It had an area of 99,392 square kilometers and a population of around 50 million people. The official language of South Korea was Korean with English being widely used in business and tourism. Politically, South Korea was a presidential republic with President Park Geun-hye as its democratically elected leader since 2013. South Korea had a strong economy in 2014 with a GDP growth rate of 3.3% and an inflation rate of 1.2%. Its main industries at the time included electronics, shipbuilding, automobiles, steel production as well as services such as finance and tourism which made up around 66% of its total income. In addition to having strong economic fundamentals, South Korea also had very high human development indicators such as life expectancy (83 years), access to education (100%) and per capita income ($29,700) which were all among some of the highest in the world. In terms of education levels in 2014, South Korea had achieved very high enrollment rates for both primary and secondary schools with literacy rates standing at 97%. This high level of educational attainment was mainly attributed to the country’s commitment to public education which ensured that all citizens had access to quality schooling regardless their socio-economic status or gender. Furthermore, this commitment to education also extended into tertiary institutions which saw many students from outside the country choosing South Korea as their study destination due to its relatively low tuition fees and high quality standards when compared to other developed countries. Check cheeroutdoor for South Korea Business.