South Korea Economy

Korea Economy, Korea Economic Profile, Korean Economy, Economy of Korea

After a period of relative success at the end of the 1990s, there has been a recent slowdown in GDP growth. GDP per capita has not grown strongly enough to narrow the income gap vis-à-vis the United States.

South Korea is part of the G-20, Group of Twenty.

of population with 48.233 million people residing there in mid 2004. According to data obtained from World Bank Indicators, national growth rate in Korea during 1997-2003 was 0.7 %, more than world average of 1%. Korea is densely populated country with 490 persons living per sq km in 2004, 80% of which live in urban areas. Life expectancy at birth in Korea is 74 years, somewhat less than other OECD high income countries, according to (1997-2003) World Bank figures. Gross primary enrollment, which denotes the percent of school-age population, is 100, same for both the sexes. 92 % of the population has access to safe drinking water. Adult Literacy rate is 98%. Korea is ranked 28th in 177 countries of the world in terms of human development index.