South Korea

Quick Facts

🇰🇷

Capital:: Seoul
Official Language(s):: Korean
Currency:: South Korean won (₩)
Population:: 51,780,579

Overview

South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and the Sea of Japan to the east. Like North Korea, South Korea claims to be the sole legitimate government of the entire peninsula and adjacent islands. It has a population of 51.71 million, of which half live in the Seoul Metropolitan Area, the ninth most populous metropolitan area in the world; other major cities include Busan, Daegu, and Incheon.

Institutional Framework

The strength of a country's institutions directly impacts its economic development and stability. Strong institutions reduce uncertainty, protect property rights, and enable efficient markets through:

Rule of law and contract enforcement
Control of corruption
Government effectiveness and regulatory quality

* Indicators normalized to 0-100 scale

Economic Structure

The composition of an economy reveals its strengths, vulnerabilities, and potential for growth. Understanding the balance between sectors (agriculture, industry, services) and their sophistication helps assess economic resilience and development opportunities.

Economic Health & Trade

Economic Scale & Power

An economy with $1.82TB(2021) GDP, showing strong growth at 4.3%(2021). Upper-middle income economy with good development.

GDP Growth: 4.3%(2021)
GDP PPP: $2.49T

Economic Structure

Economic structure shows 56.8%(2021) in services, 32.4%(2021) in industry, and 1.9%(2021) in agriculture. Balanced economic structure.

Economic Health & Trade

Economic health indicators show 3.6%(2021) unemployment and 2.5%(2021) inflation. Trade profile with 41.9%(2021) exports and 38.3%(2021) imports as % of GDP.

Unemployment

3.6%(2021)

Inflation

2.5%(2021)

Exports/GDP

41.9%(2021)

Imports/GDP

38.3%(2021)

Innovation & Competitiveness

Innovation capacity determines a country's ability to compete in the global knowledge economy. Key indicators like R&D investment, patent applications, and high-tech exports reveal the potential for sustainable economic growth and value creation.

High-Tech Exports

36.0

% of manufactured exports

ICT Exports

29.2

% of total goods exports

Digital Adoption

97.6

% of population using internet

Mobile Connectivity

140.6

Subscriptions per 100 people

Manufacturing Value

25.5

% of GDP

International Position

A country's integration into global markets affects its economic opportunities and risks. Trade relationships, financial flows, and geographic advantages or constraints shape its development trajectory and resilience to external shocks.

Financial & Trade Geography

Trade Profile

Trade represents 80.20%(2021) of GDP, with a trade balance of 3.56%(2021).

FDI Inflows: 1.21%(2021)
FDI Outflows: 3.63%(2021)

Financial Security

External Debt

N/A

Foreign Reserves

$463.28B(2021)(7.6 months of imports)

Supply Chain & Technology

Technology Trade

ICT Imports: 16.35%(2021)
High-Tech Exports: 36.01%(2021)

Economic Structure

Manufacturing: 25.49%(2021)
Services: 56.82%(2021)

Trade Agreements & Dependencies

Trade Agreements

RCEPKorea-US FTA

Critical Dependencies

semiconductors
automotive

Growth Trajectory

Understanding growth patterns helps predict future economic performance and development challenges. Key factors include productivity trends, investment levels, and structural transformation progress, which together determine long-term prosperity potential.

Growth Potential Indicators

Human Capital

Education and workforce development

69.4/100

Trade Position

International trade and competitiveness

28.3/100

Economic Structure

Sectoral balance and sophistication

40.1/100

Demographics & Human Capital

Demographics are fundamental to understanding a country's economic potential and challenges. The population structure influences everything from labor force availability to social security systems and public spending priorities.

Demographics

Population Overview

Total population of 51,769,539(2021) with -0.1%(2021) annual growth. Median age is N/A with fertility rate at 0.808 births/woman(2021).

Life Expectancy: 83.527 years(2021)
Birth Rate: 5.1 per 1,000(2021)

Age Structure

Working-age population (71.5%(2021)) with youth at 11.8%(2021) and elderly at 16.7%(2021). Total dependency ratio: 39.8%(2021).

Young Dependency: 16.5%(2021)
Old Dependency: 23.3%(2021)

Gender & Migration

Population is 50.1%(2021) female and 49.9%(2021) male, with sex ratio of 1.057 males/female(2021) at birth. Net migration: -16,778(2021).

Male Mortality: 69.268/1,000(2021)
Female Mortality: 30.297/1,000(2021)

Development Indicators

Urban population growing at -0.1%(2021) annually, with 18.6%(2021) in rural areas. Literacy rate: N/A.

Urbanization: 81.4%(2021)
Infant Mortality: 2.5 per 1,000(2021)

Population Structure

The population pyramid visualizes the age and gender distribution, revealing crucial insights about economic sustainability. A balanced pyramid with a strong working-age population (typically ages 15-64) indicates greater economic potential, as this group supports both the younger and older generations through:

Labor force participation and productivity
Tax contributions to support social services
Innovation and economic growth

An aging population (top-heavy pyramid) or youth bulge (bottom-heavy) can create demographic pressures on social systems and economic stability.

Source: World Bank Development Indicators

Security Context

Security considerations fundamentally affect economic development and investment attractiveness. Both geographic factors and military capabilities influence a country's stability and its ability to protect economic interests and maintain sustainable growth.

Geographic & Resource Security

Food & Agriculture

Arable land comprises 13.8%(2021) of territory, with 16.4%(2021) total agricultural land. Cereal yield: 6,826.1 kg/hectare(2021).

Food Production Index: 102(2021)
Cereal Production: 5,443,029.34 MT(2021)

Energy Security

Net energy imports at N/A of consumption. Renewable energy makes up 100.0%(2021) of total. Electricity access: N/A.

Resource Rents: N/A

Water Resources

Fresh water resources of 1,274 m³/capita(2021) per person. Annual precipitation: 64.314 mm(2021).

Forest Area: 2.8%(2021)

Environmental Vulnerability

1252.7%(2021) of population affected by climate disasters. Forest coverage at 2.8%(2021) providing natural buffer.

Annual Rainfall: 64.314 mm(2021)

Military & Security

Military Capabilities

Military expenditure at N/A of GDP. Armed forces personnel: 812,000,000(2021) ( 510000000.00%(2021) of labor force).

Arms Exports: 3,559 USD(2021)
Arms Imports: N/A

Strategic Status

Military Alliances

No major military alliances

Nuclear Status

Non-Nuclear State

Security Environment

Refugee population: 816,496(2021)Internally displaced: 1,139,960(2021)

Strategic Geography

Strategic Features

Borders 1 countries