Korea, South

Country Summary

2022 population pyramid

Introduction

Background

An independent kingdom for much of its long history, after World War II, a democratic government was set up in the southern half of the Korean Peninsula.  After fending off an invasion by North Korea in 1950, South Korea achieved rapid economic growth and today is a fully functioning modern democracy.

Geography

Area

total: 99,720 sq km

land: 96,920 sq km

water: 2,800 sq km

Climate

temperate, with rainfall heavier in summer than winter; cold winters

Natural resources

coal, tungsten, graphite, molybdenum, lead, hydropower potential

People and Society

Population

51,844,834 (2022 est.)

Ethnic groups

homogeneous

Languages

Korean, English (widely taught in elementary, junior high, and high school)

Religions

Protestant 19.7%, Buddhist 15.5%, Catholic 7.9%, none 56.9% (2015 est.)

Population growth rate

0.24% (2022 est.)

Government

Government type

presidential republic

Capital

name: Seoul; note - Sejong, located some 120 km (75 mi) south of Seoul, is serving as an administrative capital for segments of the South Korean Government

Executive branch

chief of state: President YOON Suk Yeol (since 10 May 2022); the president is both chief of state and head of government; Prime Minister HAN Deok-Soo (since 21 May 2022) serves as the principal executive assistant to the president, similar to the role of a vice president

head of government: President YOON Suk Yeol (since 10 May 2022)

Legislative branch

description: unicameral National Assembly or Kuk Hoe (300 seats statutory, current 295; 253 members directly elected in single-seat constituencies by simple majority vote and 47 directly elected in a single national constituency by proportional representation vote; members serve 4-year terms)

Economy

Economic overview

strong export-driven East Asian economy; sustainable and social policy leader; foreign aid financier; automotive manufacturing; app-based developer and exporter; global healthcare technology leader; credit suffers due to tensions with North Korea

Real GDP (purchasing power parity)

$2,187,800,000,000 (2020 est.)

Real GDP per capita

$42,300 (2020 est.)

Agricultural products

rice, vegetables, cabbages, milk, onions, pork, poultry, eggs, tangerines/mandarins, potatoes

Industries

electronics, telecommunications, automobile production, chemicals, shipbuilding, steel

Exports

$606.71 billion (2020 est.)

Exports - partners

China 25%, United States 14%, Vietnam 9%, Hong Kong 6%, Japan 5% (2019)

Exports - commodities

integrated circuits, cars and vehicle parts, refined petroleum, ships, office machinery (2019)

Imports

$540.96 billion (2020 est.)

Imports - partners

China 22%, United States 12%, Japan 9% (2019)

Imports - commodities

crude petroleum, integrated circuits, natural gas, refined petroleum, coal (2019)


Page last updated: Tuesday, May 24, 2022