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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]
In 2020, the COVID-19 pandemic exacerbated economic inequality in South Korea. [5] South Korea's President, Moon Jae-in, attributed a deepening wealth gap between the rich and the poor to the 2020 COVID-19 pandemic. [6] South Korea's economy depends on the gross domestic product generated by a handful of the country's largest companies.
Money Heist: Korea – Joint Economic Area featuring in Global Top 10 weekly list of the most-watched international Netflix TV shows, topped the list with 33,740,000 viewing hours in the week from June 20 to June 26 and with 49,000,000 viewing hours in the week from June 27 to July 3. In the week July 4 to July 10 it was at 3rd place with ...
In 2010, Korea had the third-lowest gender gap in employment out of 34 OECD countries, with 62.3% of women between the ages of 25 and 65 employed. [12] Economists put this large gap down to traditional Confucian beliefs continuing to hold strong within Korean society, where the family unit is the most important aspect of one's life. [ 13 ]
Both North Korea and South Korea recognize the region as a part of the People's Republic of China, but there are some liberal and left-wing nationalist elements in South Korea that endorse the idea that the region should be a part of modern-day Korea. These groups claim what happened in Jiandao between 1907 and 1909 (Japan's invasion and ...
As Korea was not a signatory state of the Treaty of San Francisco, it was not entitled to the benefits of Article 14, which stipulated the reparations by Japan.However, by the provisions of Article 21 of that treaty, Korea was entitled to be an authority applied to Article 4, which stated the arrangement of property and claims.
In the 1960s, South Korea began to transform itself from an agricultural economy to an industrial, service and high-tech-oriented economy. [2] Since then, the country's per capita GDP increased from US$100 in 1963 to US$35,300 in 2014, turning South Korea into the 20th largest economy in the world. [2] In the process, work hours increased.
About 10,000 Asian workers came to Korea under this program in 1992, and there were about 57,000 trainees in Korea in June 1996. However, the trainee program experienced problems: the trainees became undocumented workers due to a difference in wages and since they were not classified as laborers, they were not protected by the Labor Standard Law.