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In 2010, South Korea made an economic rebound with a growth rate of 6.1%, signaling a return of the economy to pre-crisis levels. South Korea's export has recorded $424 billion in the first eleven months of the year 2010, already higher than its export in the whole year of 2008.
The defense industry of South Korea is the main supplier of armaments to the Republic of Korea's Armed Forces.Originally heavily reliant on the United States to supply weapons to its armed forces, South Korea began manufacturing its own weapons through the country's industrialization and military modernization efforts. [1]
Both North and South Korea had survived the Korean War (1950–53). From the end of World War II, South Korea remained largely dependent on U.S. aid until a military coup occurred in 1961. American economic aid failed in its goal of creating an industrial base in South Korea largely thanks to corruption.
North Korea's nominal gross national income in 2023 was estimated to be 1.59 million won ($1,147.56) per capita, equivalent to just 3.4% of the South's 47.25 million won.
South Korea’s military has reached that goal, decreasing troop size by 27.6% in two decades, from 2002 to 2022. ... which divided North and South Korea after the 1953 armistice halting the ...
In 2024, North Korea's "economic freedom" score from the free-market oriented Heritage Foundation was 2.9, making its economy the world’s least free. The country’s economic freedom score is lower than the world and regional averages. North Korea’s economy is considered “repressed” according to the 2024 Index. [69] [70] [71]
North Koreahas launched more than 100 missiles since 2022, and U.S. and South Korean officials have said it is likely preparing to conduct its seventh nuclear test — the first since 2017.
Songun (Korean: 선군) is the "military-first" policy of North Korea, prioritizing the Korean People's Army in the affairs of state and allocation of resources. "Military-first" as a principle guides political and economic life in North Korea, with "military-first politics" dominating the political system; "a line of military-first economic construction" acting as an economic system; and ...