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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 2025. [3]
SEOUL (Reuters) -South Korea's economy expanded at the fastest pace in 11 years in 2021 helped by a jump in exports and construction activity, tempering declines in capital investment and a slow ...
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 ...
Following the Korean War, South Korea remained one of the poorest countries in the world for over a decade. Marred by poverty, malnutrition, and illiteracy, political chaos, and cultural discourse, South Korea's gross domestic product per capita in 1960 was $79, [120] lower than that of some sub-Saharan African countries.
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 ...
Trump has accused South Korea, a key Asian ally, of getting a "free-ride" on U.S. military power and demanded it pay far more of the cost of keeping American troops in the country to counter the ...
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.
SEOUL, South Korea (AP) — South Korea’s central bank on Friday cut its policy rate for the first time in more than four years as pressure to revive a sluggish economy outweighed concerns about ...