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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 following is a list of the exports of South Korea. Data is for 2012, in millions of United States dollars, as reported by The Observatory of Economic Complexity. Currently the top twenty exports are listed. #
The steel industry plays a key role in the South Korean economy as it is the material for major industries such as automobiles, shipbuilding, and construction.In South Korea, the steel industry's GDP is 1.5 percent of all industries, and 4.9 percent of the manufacturing industry.
South Korea's economy returned to growth in the third quarter, recovering from its sharpest contraction in more than a decade, as the government pushed through stimulus measures and major trading ...
Cultivated fields in Gyeongju, South Korea (2006), display intensive use of land, dominated by the rice crop. Andong-Hahoe Folk Village (2005) showing high-productivity rice field. Agriculture in South Korea is a sector of the economy of South Korea. Korean agriculture is the basic industry of the Korean economy, consisting of farming, animal ...
Small and medium-sized enterprises (SMEs) form the backbone of South Korea’s economy, accounting for 99.9% of all businesses in the country and employing over 80% of the workforce. [1] [2] As of recent estimates, there are more than 7.7 million SMEs in South Korea, employing approximately 18.49 million people, or 81% of the total workforce.
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.
South Korea's economy was one of the world's fastest-growing from the early 1960s to the late 1990s, and was still one of the fastest-growing developed countries in the 2000s, along with Hong Kong, Singapore and Taiwan, the other three Asian Tigers. [199] It recorded the fastest rise in average GDP per capita in the world between 1980 and 1990 ...