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The economy of South Korea is a highly developed mixed economy. [19] [20] [21] By nominal GDP, the economy was worth ₩2.61 quadrillion (US$1.87 trillion).It has the 4th largest economy in Asia and the 12th largest in the world as of 2024. [3]
The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF's definitive data for the past year and estimates for the current year are published twice a year in ...
Thus, through subsidies from government, Korea's economic showed satisfactory figures with higher annual real GDP growth in comparison to the expected return, 8.5 percent and 7.1 percent, respectively. [25] Moreover, in the late 1990s South Korea experienced severe economic deterioration due to the 1997 financial crisis.
In addition, South Korea's rigorous education system and the establishment of a highly motivated and educated populace is largely responsible for spurring the country's high technology boom and rapid economic development. [126] South Korea's industrial manufacturing capability has doubled and its export sector has grown rapidly.
There are currently 47,406 Korean Americans residing in South Korea, up from 35,501 in 2010, according to data from the Ministry of Justice. They are driving the record high number of diaspora ...
the World Bank Logo. As South Korea has been the top 15 largest economy in the world for the since the 2010s, [4] it is now an important financial contributor to the World Bank Group instead of a borrower a few decades ago. There are different types of joint projects, funds, and initiatives between the South Korea government and the World Bank ...
North Korea's food situation is "still bad" despite an uptick in trade with China, the South's unification minister, charged with handling relations with its neighbour, said on Monday. The North ...
Chinese Foreign Minister Wang Yi warned his South Korean counterpart on Sunday not to politicise economic and tech issues as the two prepared to meet Japan's top diplomat on the sidelines of a ...