South Korea

South Korea

South Korea, officially known as the Republic of Korea, country in

northeastern Asia that occupies the southern portion of the Korean Peninsula.

South Korea is bounded on the north by North Korea; on the east by the Sea of

Japan; on the southeast and south by the Korea Strait, which separates it from

Japan; and on the west by the Yellow Sea. It has a total area of about 38,023 sq.

mi., including numerous offshore islands in the south and west, the largest of

which is Cheju (area, 1829 sq. km/706 sq. mi.). The state of South Korea was

established in 1948 following the post-World War II partitioning of the

peninsula between the occupying forces of the United States in the south and the

Union of Soviet Socialist Republics (USSR) in the north. The capital and largest

city of South Korea is Seoul.

In contrast to North Korea, South Korea is relatively poor in mineral

resources. The principal resources are coal (mostly anthracite), iron ore, and

graphite. Other minerals include gold, silver, copper, lead, tungsten, zinc, and

uranium. Reserves of natural gas have been discovered offshore. These minute

resources are not as depended upon by the people of South Korea as in the North.

The north is heavy in mining these resources because they have a large surplus

of them, and the north is not; they have moved on and found other economical

niches.

The population of South Korea (1995 estimate) is about 45,182,000 people.

The country's estimated population density of 1188 per sq mi is one of the

highest in the world. The majority of the population lives in the southern and

western coastal areas. The annual rate of increase has dropped steadily from

more than 3 percent in the late 1950s to 0.8 percent in the mid-1990s.

Urbanization of the country has proceeded rapidly since the 1960s, with

substantial rural to urban migration; approximately 78 percent of the population

is now classified as urban. Since the establishment of North Korea, some 4

million immigrants have crossed the border to South Korea. This increase has

been partly offset by emigration from South Korea, especially to Japan and the

United States.

The country's chief industrial center is Seoul (population, 1990,

10,612,577). Other major cities include Pusan (3,798,113), the principal

seaport; Taegu (2,229,...

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...a is the won (806.8 won equal U.S.$1;

1994). The Bank of Korea is the bank of issue.

Foreign Trade

Following the disruption of trade during the Korean War (1950-1953) and

its aftermath, exports increased at the remarkable annual rate of 27.2 percent

from 1965 to 1980 and 14.7 percent from 1980 to 1988. Major imports include

industrial machinery, petroleum and petroleum products, chemical products,

transportation equipment, raw materials (such as wood and raw cotton), and

electronic components. Exports include electrical machinery, fabrics,

telecommunication and sound equipment, electronic microcircuits, clothing, ships,

automobiles, chemicals, office machines, and footwear. Annual imports in the

early 1990s were valued at $83.8 billion and exports were worth $82.2 billion.

Principal trading partners for exports were the United States, Japan, Hong Kong,

Germany, Singapore, Great Britain, Canada, and Australia; chief partners for

imports were Japan, the United States, Germany, Saudi Arabia, Australia, and

Indonesia.

To sum this up, South Korea is a very industrial, high-export country.

It has many people, so they can have huge factories and be very productive.