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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]
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 ...
Seoul has three central business districts; the Downtown Seoul(CBD), Gangnam(GBD), and Yeouido(YBD). [12] The Downtown Seoul, which has 600 hundred years of history as unparalleled business district in entire Korea, is now a densely concentrated area around Gwanghwamun and Cheonggyecheon with headquarters of major companies, foreign financial institutions, largest news agencies and law firms.
The economy of the state of Florida is the fourth-largest in the United States, with a $1.695 trillion gross state product (GSP) as of 2024. [1] If Florida were a sovereign nation (2024), it would rank as the world's 15th-largest economy by nominal GDP according to the International Monetary Fund , ahead of Spain and behind South Korea .
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 ...
Foreign nations react as calls grow for president’s resignation and impeachment
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.