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South Korea

Geography

Location: Eastern Asia, southern half of the Korean peninsula bordering the Sea of Japan and the Yellow Sea, south of North Korea

Map references: Asia

Area:
total area: 98,480 sq km
land area: 98,190 sq km
comparative area: slightly larger than Indiana

Land boundaries: total 238 km, North Korea 238 km

Coastline: 2,413 km

Maritime claims:
continental shelf: not specified
territorial sea: 12 nm; 3 nm in the Korea Strait

International disputes: Demarcation Line with North Korea; Liancourt Rocks claimed by Japan

Climate: temperate, with rainfall heavier in summer than winter

Terrain: mostly hills and mountains; wide coastal plains in west and south

Natural resources: coal, tungsten, graphite, molybdenum, lead, hydropower

Land use:
arable land: 21%
permanent crops: 1%
meadows and pastures: 1%
forest and woodland: 67%
other: 10%

Irrigated land: 13,530 sq km (1989)

Environment:
current issues: air pollution in large cities; water pollution from the discharge of sewage and industrial effluents; driftnet fishing
natural hazards: occasional typhoons bring high winds and floods; earthquakes in southwest
international agreements: party to - Antarctic Treaty, Biodiversity, Climate Change, Endangered Species, Environmental Modification, Hazardous Wastes, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Whaling; signed, but not ratified - Antarctic-Environmental Protocol, Desertification, Law of the Sea

People

Population: 45,553,882 (July 1995 est.)

Age structure:
0-14 years: 24% (female 5,280,998; male 5,640,789)
15-64 years: 71% (female 15,877,182; male 16,291,183)
65 years and over: 5% (female 1,554,512; male 909,218) (July 1995 est.)

Population growth rate: 1.04% (1995 est.)

Birth rate: 15.63 births/1,000 population (1995 est.)

Death rate: 6.18 deaths/1,000 population (1995 est.)

Net migration rate: 0.9 migrant(s)/1,000 population (1995 est.)

Infant mortality rate: 20.9 deaths/1,000 live births (1995 est.)

Life expectancy at birth:
total population: 70.89 years
male: 67.69 years
female: 74.29 years (1995 est.)

Total fertility rate: 1.66 children born/woman (1995 est.)

Nationality:
noun: Korean(s)
adjective: Korean

Ethnic divisions: homogeneous (except for about 20,000 Chinese)

Religions: Christianity 48.6%, Buddhism 47.4%, Confucianism 3%, pervasive folk religion (shamanism), Chondogyo (Religion of the Heavenly Way) 0.2%

Languages: Korean, English widely taught in high school

Literacy: age 15 and over can read and write (1990 est.)
total population: 96%
male: 99%
female: 94%

Labor force: 20 million
by occupation: services and other 52%, mining and manufacturing 27%, agriculture, fishing, forestry 21% (1991)

Government

Names:
conventional long form: Republic of Korea
conventional short form: South Korea
local long form: Taehan-min'guk
local short form: none
note: the South Koreans generally use the term "Hanguk" to refer to their country

Abbreviation: ROK

Digraph: KS

Type: republic

Capital: Seoul

Administrative divisions: 9 provinces (do, singular and plural) and 6 special cities* (jikhalsi, singular and plural); Cheju-do, Cholla-bukto, Cholla-namdo, Ch'ungch'ong-bukto, Ch'ungch'ong-namdo, Inch'on-jikhalsi*, Kangwon-do, Kwangju-jikhalsi*, Kyonggi-do, Kyongsang-bukto, Kyongsang-namdo, Pusan-jikhalsi*, Soul-t'ukpyolsi*, Taegu-jikhalsi*, Taejon-jikhalsi*

Independence: 15 August 1948

National holiday: Independence Day, 15 August (1948)

Constitution: 25 February 1988

Legal system: combines elements of continental European civil law systems, Anglo-American law, and Chinese classical thought

Suffrage: 20 years of age; universal

Executive branch:
chief of state: President KIM Yong-sam (since 25 February 1993); election last held on 18 December 1992 (next to be held NA December 1997); results - KIM Yong-sam (DLP) 41.9%, KIM Tae-chung (DP) 33.8%, CHONG Chu-yong (UPP) 16.3%, other 8%
head of government: Prime Minister YI Hong-ku (since 17 December 1994); Deputy Prime Minister HONG Chae-yong (since 4 October 1994) and Deputy Prime Minister KIM Tok (since 23 December 1994)
cabinet: State Council; appointed by the president on the prime minister's recommendation

Legislative branch: unicameral
National Assembly (Kukhoe): elections last held on 24 March 1992; results - DLP 38.5%, DP 29.2%, Unification National Party (UNP) 17.3% (name later changed to UPP), other 15%; seats - (299 total) DLP 149, DP 97, UNP 31, other 22; the distribution of seats as of January 1994 was DLP 172, DP 96, UPP 11, other 20
note: the change in the distribution of seats reflects the fluidity of the current situation where party members are constantly switching from one party to another

Judicial branch: Supreme Court

Political parties and leaders:
majority party: Democratic Liberal Party (DLP), KIM Yong-sam, president
opposition: Democratic Party (DP), YI Ki-taek, executive chairman; United People's Party (UPP), KIM Tong-kil, chairman; several smaller parties
note: the DLP resulted from a merger of the Democratic Justice Party (DJP), Reunification Democratic Party (RDP), and New Democratic Republican Party (NDRP) on 9 February 1990

Other political or pressure groups: Korean National Council of Churches; National Democratic Alliance of Korea; National Federation of Student Associations; National Federation of Farmers' Associations; National Council of Labor Unions; Federation of Korean Trade Unions; Korean Veterans' Association; Federation of Korean Industries; Korean Traders Association

Member of: AfDB, APEC, AsDB, CCC, CP, EBRD, ESCAP, FAO, G-77, GATT, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, INMARSAT, INTELSAT, INTERPOL, IOC, IOM, ISO, ITU, OAS (observer), UN, UNCTAD, UNESCO, UNIDO, UNU, UPU, WHO, WIPO, WMO, WTO

Diplomatic representation in US:
chief of mission: Ambassador PAK Kun-u
chancery: 2450 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 939-5600
consulate(s) general: Agana (Guam), Anchorage, Atlanta, Boston, Chicago, Honolulu, Houston, Los Angeles, Miami, New York, San Francisco, and Seattle

US diplomatic representation:
chief of mission: Ambassador James T. LANEY
embassy: 82 Sejong-Ro, Chongro-ku, Seoul
mailing address: American Embassy, Unit 15550, Seoul; APO AP 96205-0001
telephone: [82] (2) 397-4114
FAX: [82] (2) 738-8845
consulate(s): Pusan

Flag: white with a red (top) and blue yin-yang symbol in the center; there is a different black trigram from the ancient I Ching (Book of Changes) in each corner of the white field

Economy

Overview: The driving force behind the economy's dynamic growth has been the planned development of an export-oriented economy in a vigorously entrepreneurial society. Real GDP increased more than 10% annually between 1986 and 1991. This growth ultimately led to an overheated situation characterized by a tight labor market, strong inflationary pressures, and a rapidly rising current account deficit. As a result, in 1992, economic policy focused on slowing the growth rate of inflation and reducing the deficit. Annual growth slowed to 5%, still above the rate in most other countries of the world, and recovered to 6.3% in 1993. The economy expanded by 8.3% in 1994, driven by booming exports.

National product: GDP - purchasing power parity - $508.3 billion (1994 est.)

National product real growth rate: 8.3% (1994)

National product per capita: $11,270 (1994 est.)

Inflation rate (consumer prices): 5.6% (1994)

Unemployment rate: 2% (November 1994)

Budget:
revenues: $63 billion
expenditures: $63 billion, including capital expenditures of $NA (1995 est.)

Exports: $96.2 billion (f.o.b., 1994)
commodities: electronic and electrical equipment, machinery, steel, automobiles, ships, textiles, clothing, footwear, fish
partners: US 26%, Japan 17%, EU 14%

Imports: $102.3 billion (c.i.f., 1994)
commodities: machinery, electronics and electronic equipment, oil, steel, transport equipment, textiles, organic chemicals, grains
partners: Japan 26%, US 24%, EU 15%

External debt: $44.1 billion (1993)

Industrial production: growth rate 12.1% (1994 est.); accounts for about 45% of GNP

Electricity:
capacity: 26,940,000 kW
production: 137 billion kWh
consumption per capita: 2,847 kWh (1993)

Industries: electronics, automobile production, chemicals, shipbuilding, steel, textiles, clothing, footwear, food processing

Agriculture: accounts for 8% of GDP and employs 21% of work force (including fishing and forestry); principal crops - rice, root crops, barley, vegetables, fruit; livestock and livestock products - cattle, hogs, chickens, milk, eggs; self-sufficient in food, except for wheat; fish catch of 2.9 million metric tons, seventh-largest in world

Economic aid:
recipient: US commitments, including Ex-Im (FY70-89), $3.9 billion; non-US countries (1970-89), $3 billion

Currency: 1 South Korean won (W) = 100 chun (theoretical)

Exchange rates: South Korean won (W) per US$1 - 790.48 (January 1995), 803.44 (1994), 802.67 (1993), 780.65 (1992), 733.35 (1991), 707.76 (1990)

Fiscal year: calendar year

Transportation

Railroads:
total: 6,763 km
standard gauge: 6,716 km 1.435-meter gauge (525 km electrified; 847 km double track)
narrow gauge: 47 km 0.610-meter gauge

Highways:
total: 63,200 km
paved: expressways 1,550 km
unpaved: NA
undifferentiated: national highway 12,190 km; provincial, local roads 49,460 km (1991)

Inland waterways: 1,609 km; use restricted to small native craft

Pipelines: petroleum products 455 km

Ports: Chinhae, Inch'on, Kunsan, Masan, Mokp'o, Pohang, Pusan, Ulsan, Yosu

Merchant marine:
total: 412 ships (1,000 GRT or over) totaling 6,129,796 GRT/9,985,197 DWT
ships by type: bulk 123, cargo 125, chemical tanker 17, combination bulk 1, combination ore/oil 1, container 61, liquefied gas tanker 13, multifunction large-load carrier 1, oil tanker 51, refrigerated cargo 9, short-sea passenger 1, vehicle carrier 9

Airports:
total: 114
with paved runways over 3,047 m: 1
with paved runways 2,438 to 3,047 m: 22
with paved runways 1,524 to 2,437 m: 10
with paved runways 914 to 1,523 m: 14
with paved runways under 914 m: 63
with unpaved runways 914 to 1,523 m: 4

Communications

Telephone system: 13.3 million telephones; excellent domestic and international services
local: NA
intercity: NA
international: 3 INTELSAT (2 Pacific Ocean and 1 Indian Ocean) earth stations

Radio:
broadcast stations: AM 79, FM 46, shortwave 0
radios: NA

Television:
broadcast stations: 256 (1 kW or greater 57)
televisions: NA

Defense Forces

Branches: Army, Navy, Air Force, Marine Corps, National Maritime Police (Coast Guard)

Manpower availability: males age 15-49 13,580,832; males fit for military service 8,701,742; males reach military age (18) annually 405,290 (1995 est.)

Defense expenditures: exchange rate conversion - $14 billion, 3.3% of GNP (1995 est.).

Copyright © 1996, The Emerging Markets Companion, Inc.The information herein was obtained from sources which The Emerging Markets Companion, Inc. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities.