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Do not fill this in! == Economy == {{Main|Economy of South Korea}}{{See also|List of largest companies of South Korea}} {| class="wikitable" style="float: right; margin-left: 10px;" |+Share of world GDP (PPP)<ref name="International Monetary Fund-2023">{{cite web |author= |date=April 2023 |title=World Economic Outlook Database, April 2023 |url=https://www.imf.org/en/Publications/WEO/weo-database/2023/April |access-date=16 May 2023 |website=[[International Monetary Fund]] |publisher= |archive-date=13 April 2023 |archive-url=https://web.archive.org/web/20230413194731/https://www.imf.org/en/Publications/WEO/weo-database/2023/April |url-status=live }}</ref> |- ! style="background:#CCFFBB;"|Year ! style="background:#CCFFBB;"|Share |- |style="text-align:left;"|1980 || style="text-align:right;" |0.61% |- |style="text-align:left;"|1990 || style="text-align:right;" |1.16% |- |2000 | style="text-align:right;"|1.56% |- |2010 | style="text-align:right;"|1.70% |- | style="text-align:left;" |2020 || style="text-align:right;" |1.74% |} {{Expand section|with=the influence of chaebol companies|date=June 2023}}{{multiple image | align = right | direction = vertical | image1 = BOK main office3.jpg | caption1 = The [[Bank of Korea]], the central bank of South Korea and issuer of the [[South Korean won]] | image2 = Samsung headquarters.jpg | caption2 = The Samsung headquarters in [[Samsung Town]], located in [[Seocho-gu]], Seoul | image3 = Lotte World morning view 8.jpg | caption3 = The [[Lotte World Tower]] in [[Songpa-gu]], Seoul, is the [[List of tallest buildings in South Korea|tallest building in South Korea]] and the [[List of tallest buildings|6th tallest in the world]]. }} South Korea's [[mixed economy]]<ref>[http://globaledge.msu.edu/countries/south-korea South Korea: Introduction >> globalEDGE: Your source for Global Business Knowledge] {{Webarchive|url=https://web.archive.org/web/20180605194018/https://globaledge.msu.edu/countries/south-korea/ |date=5 June 2018 }}. Globaledge.msu.edu. Retrieved 5 October 2016.</ref><ref>[http://www.tiq.qld.gov.au/wp-content/uploads/2014/08/TIQ-524-14-Market-Summary-SOUTH-KOREA.pdf SOUTH KOREA Market overview] {{webarchive|url=https://web.archive.org/web/20161025032539/http://www.tiq.qld.gov.au/wp-content/uploads/2014/08/TIQ-524-14-Market-Summary-SOUTH-KOREA.pdf |date=25 October 2016 }}. tiq.qld.gov.au</ref><ref>{{cite book |author1=Kerr, Anne |author2=Wright, Edmund |title=A Dictionary of World History |url=https://books.google.com/books?id=POAwBwAAQBAJ&pg=PA367 |year=2015 |publisher=Oxford University Press |isbn=978-0-19-968569-1 |pages=367– |access-date=28 March 2024 |archive-date=24 January 2023 |archive-url=https://web.archive.org/web/20230124010159/https://books.google.com/books?id=POAwBwAAQBAJ&pg=PA367 |url-status=live }}</ref> is the [[List of countries by GDP (nominal)|13th largest GDP]] at nominal and the [[List of countries by GDP (nominal)|14th largest GDP]] by purchasing power parity in the world,<ref name="International Monetary Fund-2023" /> identifying it as one of the [[G20]] major economies. It is a [[developed country]] with a [[World Bank high-income economy|high-income economy]] and is the most industrialized member country of the OECD. South Korean brands such as [[LG Electronics]] and [[Samsung]] are internationally famous and garnered South Korea's reputation for its quality electronics and other manufactured goods.<ref>{{cite book |title= North Korea in Pictures|isbn= 978-0-8225-1908-9|publisher= Lerner Publishing Group |author=Behnke, Alison |year=2004 |pages=60}}</ref> South Korea became a member of the OECD in 1996.<ref>[http://www.oecd.org/about/0,3347,en_33873108_33873555_1_1_1_1_1,00.html "About Korea"] {{webarchive|url=https://web.archive.org/web/20160101130536/http://www.oecd.org/about/0%2C3347%2Cen_33873108_33873555_1_1_1_1_1%2C00.html |date=1 January 2016 }}. Paris: OECD.</ref> Its massive investment in education has taken the country from mass illiteracy to a major international technological powerhouse. The country's national economy benefits from a highly skilled workforce and is among the most educated countries in the world with one of the highest percentages of its citizens holding a tertiary education degree.<ref name="OECD">{{cite web|title=OECD.Stat Education and Training > Education at a Glance > Educational attainment and labor-force status > Educational attainment of 25–64 year-olds |publisher=OECD |url=http://stats.oecd.org/# |url-status=dead |archive-url=https://web.archive.org/web/20160131154408/http://stats.oecd.org/ |archive-date=31 January 2016}}</ref> 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 [[Four Asian Tigers|Asian Tigers]].<ref>{{cite book |url= http://www.imf.org/external/pubs/ft/weo/2010/01/weodata/weorept.aspx?sy=2008&ey=2015&scsm=1&ssd=1&sort=country&ds=.&br=1&pr1.x=18&pr1.y=5&c=193%2C542%2C122%2C137%2C124%2C181%2C156%2C138%2C423%2C196%2C935%2C142%2C128%2C182%2C172%2C576%2C132%2C936%2C134%2C961%2C174%2C184%2C532%2C144%2C176%2C146%2C178%2C528%2C436%2C112%2C136%2C111%2C158&s=NGDP_RPCH&grp=0&a= |title= Economic Growth Rates of Advanced Economies |publisher= International Monetary Fund |access-date= 8 September 2010 |archive-date= 30 April 2011 |archive-url= https://web.archive.org/web/20110430000338/http://www.imf.org/external/pubs/ft/weo/2010/01/weodata/weorept.aspx?sy=2008&ey=2015&scsm=1&ssd=1&sort=country&ds=.&br=1&pr1.x=18&pr1.y=5&c=193%2C542%2C122%2C137%2C124%2C181%2C156%2C138%2C423%2C196%2C935%2C142%2C128%2C182%2C172%2C576%2C132%2C936%2C134%2C961%2C174%2C184%2C532%2C144%2C176%2C146%2C178%2C528%2C436%2C112%2C136%2C111%2C158&s=NGDP_RPCH&grp=0&a= |url-status= live }}</ref> It recorded the [[List of countries by GDP (real) per capita growth rate|fastest rise in average GDP per capita]] in the world between 1980 and 1990.<ref>{{cite web|url=https://data.worldbank.org/indicator/NY.GDP.PCAP.KD.ZG/|title=GDP per capita growth (annual %) – Data|website=data.worldbank.org|access-date=28 March 2024|archive-date=10 August 2019|archive-url=https://web.archive.org/web/20190810233015/https://data.worldbank.org/indicator/NY.GDP.PCAP.KD.ZG|url-status=live}}</ref> South Koreans refer to this growth as the [[Miracle on the Han River]].<ref>{{cite book |url= https://books.google.com/books?id=nTCC2ZheFu0C&q=han%20river%20miracle&pg=PA254 |title= Korea, A Century of Change |isbn=978-981-02-4657-0 |publisher=World Scientific |location =River Edge, NJ |author=Kleiner, Jürgen |year=2001}}</ref> The South Korean economy is heavily dependent on international trade, and in 2014, South Korea was the [[List of countries by exports|fifth-largest exporter]] and [[List of countries by imports|seventh-largest importer]] in the world. In addition, the country has one of the world's [[List of countries by foreign-exchange reserves|largest foreign-exchange reserves]].<ref>{{#invoke:Cite web||title=The Korean Economy – the Miracle on the Hangang River |url=https://www.korea.net/AboutKorea/Economy/The-Miracle-on-The-Hangang |access-date=6 May 2022 |website=[[Korea.net]] |language=en}}</ref> Despite the economy's high growth potential and apparent structural stability, the country suffers damage to its credit rating in the stock market because of the belligerence of North Korea in times of deep military crises, which has an adverse effect on its financial markets.<ref name="kcredit">{{cite news |url=http://english.chosun.com/site/data/html_dir/2010/08/02/2010080201090.html |title=Moody's Raises Korea's Credit Range |work=[[The Chosun Ilbo]] |location=Seoul |date=2 August 2010 |access-date=14 August 2010 |archive-date=15 August 2016 |archive-url=https://web.archive.org/web/20160815014221/http://english.chosun.com/site/data/html_dir/2010/08/02/2010080201090.html |url-status=live }}</ref><ref>{{cite news |url=http://www.hani.co.kr/arti/english_edition/e_business/422572.html |title=Financial markets unstable in S.Korea following Cheonan sinking |work=Hankyeoreh |date=26 May 2010 |access-date=14 August 2010 |archive-date=4 September 2016 |archive-url=https://web.archive.org/web/20160904073113/http://www.hani.co.kr/arti/english_edition/e_business/422572.html |url-status=live }}</ref> The [[International Monetary Fund]] compliments the resilience of the economy against various economic crises, citing low state debt and high fiscal reserves that can quickly be mobilized to address financial emergencies.<ref>{{cite news |url=http://news.xinhuanet.com/english2010/business/2010-09/07/c_13482842.htm |title=S Korea stands among world's highest-level fiscal reserve holders: IMF |work=Xinhua |location=Beijing |date=7 September 2010 |access-date=8 September 2010 |archive-date=14 November 2010 |archive-url=https://web.archive.org/web/20101114065611/http://news.xinhuanet.com/english2010/business/2010-09/07/c_13482842.htm |url-status=dead }}</ref> Although it was severely harmed by the [[1997 Asian financial crisis]], the country managed a rapid recovery and subsequently tripled its GDP.<ref>{{cite news|title=Lessons from South Korea's Chaebol economy|url=http://theconversation.com/lessons-from-south-koreas-chaebol-economy-20158|access-date=15 December 2013|newspaper=The Conversation Australia|date=6 December 2013|author=Nattavud Pimpa|archive-date=15 December 2013|archive-url=https://web.archive.org/web/20131215204138/http://theconversation.com/lessons-from-south-koreas-chaebol-economy-20158|url-status=live}}</ref> Furthermore, South Korea was one of the few developed countries that was able to avoid a recession during the [[2007–2008 financial crisis|global financial crisis]] of 2007–08.<ref>{{cite news |url=https://www.newsweek.com/south-korea-survived-recession-ceo-tactics-216564 |title=South Korea Survived Recession With CEO Tactics |work=[[Newsweek]] |location=New York |date=10 May 2010 |access-date=28 March 2024 |archive-date=12 June 2016 |archive-url=https://web.archive.org/web/20160612001203/http://www.newsweek.com/blogs/wealth-of-nations/2010/05/10/south-korea-survived-recession-with-ceo-tactics.html |url-status=live }}</ref> Its economic growth rate reached 6.2% in 2010 (the fastest growth for eight years after significant growth by 7.2% in 2002),<ref>{{cite news|url=http://www.brecorder.com/world/global-business-a-economy/9339-south-korea-gdp-grew-revised-62pc-in-2010.html |title=South Korea GDP grew revised 6.2pc in 2010 |work=Business Recorder |date=30 March 2011 |agency=Agence France-Presse |location=Karachi |url-status=dead |archive-url=https://web.archive.org/web/20110427091206/http://www.brecorder.com/world/global-business-a-economy/9339-south-korea-gdp-grew-revised-62pc-in-2010.html |archive-date=27 April 2011}}</ref> a sharp recovery from economic growth rates of 2.3% in 2008 and 0.2% in 2009 during the [[Great Recession]]. The unemployment rate also remained low in 2009 at 3.6%.<ref>{{cite web |url=https://2009-2017.state.gov/r/pa/ei/bgn/2800.htm |title=Background Note: South Korea |publisher=U.S. State Department |date=7 July 2011 |access-date=21 May 2019 |archive-date=4 June 2019 |archive-url=https://web.archive.org/web/20190604192157/https://2009-2017.state.gov/r/pa/ei/bgn/2800.htm |url-status=live }}</ref> The following list includes the largest South Korean companies by revenue in 2017 who are all listed as part of the [[Fortune Global 500]]: {| class="wikitable sortable" style="text-align:right;" |- style="background:#EFEFEF;" ! style="text-align:center;"|Rank<ref>{{cite web|url=http://fortune.com/global500/samsung-electronics-13/|title=Samsung Electronics|work=Fortune|access-date=28 March 2024|archive-date=24 October 2014|archive-url=https://web.archive.org/web/20141024065549/http://fortune.com/global500/samsung-electronics-13/|url-status=live}}</ref>||style="text-align:center;"|Name||style="text-align:center;"|Headquarters||style="text-align:center;"|Revenue<br />(mil. $) || style="text-align:center;" |Profit<br />(mil. $) || style="text-align:center;" |Assets<br />(mil. $) |- |style="text-align:center;"|{{0}}1. ||style="text-align:left;"|[[Samsung Electronics]] ||style="text-align:left;"|[[Suwon]] ||173,957 ||19,316 ||217,104 |- |style="text-align:center;"|{{0}}2. ||style="text-align:left;"|[[Hyundai Motor]] ||style="text-align:left;"|[[Seoul]] ||80,701 ||4,659 ||148,092 |- |style="text-align:center;"|{{0}}3. ||style="text-align:left;"|[[SK Holdings]] ||style="text-align:left;"|[[Seoul]] ||72,579 ||659 ||85.332 |- |style="text-align:center;"|{{0}}4. ||style="text-align:left;"|[[Korea Electric Power]] ||style="text-align:left;"|[[Naju]] ||51,500||6,074 ||147,265 |- |style="text-align:center;"|{{0}}5. ||style="text-align:left;"|[[LG Electronics]] ||style="text-align:left;"|[[Seoul]] ||47,712 ||66 ||31,348 |- |style="text-align:center;"|{{0}}6. ||style="text-align:left;"|[[POSCO]] ||style="text-align:left;"|[[Pohang]] ||45,621 ||1,167 ||66,361 |- |style="text-align:center;"|{{0}}7. ||style="text-align:left;"|[[Kia Motors]] ||style="text-align:left;"|[[Seoul]] ||45,425 ||2,373 ||42,141 |- |style="text-align:center;"|{{0}}8. ||style="text-align:left;"|[[Hanwha]] ||style="text-align:left;"|[[Seoul]] ||40,606||423 ||128,247 |- |style="text-align:center;"|{{0}}9. ||style="text-align:left;"|[[Hyundai Heavy Industries]] ||style="text-align:left;"|[[Ulsan]] ||33,881 ||469 ||40,783 |- |style="text-align:center;"|{{0}}10. ||style="text-align:left;"|[[Hyundai Mobis]] ||style="text-align:left;"|[[Seoul]] ||32,972 ||2,617||34,541 |- |style="text-align:center;"|{{0}}11. ||style="text-align:left;"|[[Samsung Life Insurance]] ||style="text-align:left;"|[[Seoul]] ||26,222||1,770 ||219,157 |- |style="text-align:center;"|{{0}}12. ||style="text-align:left;"|[[Lotte Shopping]] ||style="text-align:left;"|[[Seoul]] ||25,444 ||144 ||34,710 |- |style="text-align:center;"|{{0}}13. ||style="text-align:left;"|[[Samsung C&T]] ||style="text-align:left;"|[[Seoul]] ||24,217 ||92 ||36,816 |- |style="text-align:center;"|{{0}}14. ||style="text-align:left;"|[[LG Display]] ||style="text-align:left;"|[[Seoul]] ||22,840 ||781 ||20,606 |- |style="text-align:center;"|{{0}}15. ||style="text-align:left;"|[[GS Caltex]] ||style="text-align:left;"|[[Seoul]] ||22,207 ||1,221 ||15,969 |} === Transportation === {{Main|Transport in South Korea}} {{multiple image | align = left | direction = vertical | image1 = Incheon Airport Maglev 1-04.jpg | caption1 = [[Incheon International Airport]]'s [[Incheon Airport Maglev|Maglev]] station | image2 = HEMU-430X Test run.jpg | caption2 = South Korea developed the [[HEMU-430X|HEMU 430X]] [[High-speed rail|high-speed train]], which can travel at over {{cvt|430|km/h}}, making South Korea the world's fourth country after France, Japan and China to develop a high-speed train running above {{cvt|420|km/h}} on conventional rails. | image3 = Daegu Metro Line 3.jpg | caption3 = The [[Daegu Metro Line 3]] monorail }} South Korea has a technologically advanced transport network consisting of high-speed railways, highways, bus routes, ferry services, and air routes that crisscross the country. [[Korea Expressway Corporation]] operates the toll highways and service amenities en route. [[Korail]] provides train services to all major South Korean cities. Two rail lines, [[Gyeongui Line|Gyeongui]] and [[Donghae Bukbu Line]], to North Korea are being reconnected. The Korean [[high-speed rail]] system, [[Korea Train Express|KTX]], provides high-speed service along [[Gyeongbu Line|Gyeongbu]] and [[Honam Line]]. Major cities have urban rapid transit systems.<ref>{{cite web|url=http://www.visitkorea.or.kr/ena/TR/TR_EN_5_1_4.jsp|title=Subway|publisher=[[Korea Tourism Organization]]|access-date=18 July 2010|archive-url=https://web.archive.org/web/20131203103436/http://www.visitkorea.or.kr/ena/TR/TR_EN_5_1_4.jsp|archive-date=3 December 2013|url-status=dead}}</ref> Express bus terminals are available in most cities.<ref>[http://www.kobus.co.kr/web/eng/01_guide/guide02.jsp Express bus terminal guide] {{webarchive|url=https://web.archive.org/web/20100923233625/http://www.kobus.co.kr/web/eng/01_guide/guide02.jsp |date=23 September 2010 }}, Korea Express Bus Lines Association.</ref> The main gateway and largest airport is [[Incheon International Airport]], serving {{Nowrap|58 million}} passengers in 2016.<ref>{{cite news |url=https://airlineweekly.com/surging-seoul-traffic-at-incheon-airport-is-booming-but-can-south-koreas-big-two-airlines-capitalize/ |title=Surging Seoul: Traffic at Incheon Airport is booming. But can South Korea's Big Two airlines capitalize? |date=23 October 2017 |publisher=Airline Weekly |access-date=9 March 2018 |archive-date=9 March 2018 |archive-url=https://web.archive.org/web/20180309120455/https://airlineweekly.com/surging-seoul-traffic-at-incheon-airport-is-booming-but-can-south-koreas-big-two-airlines-capitalize/ |url-status=live }}</ref> Other international airports include [[Gimpo International Airport|Gimpo]], [[Gimhae International Airport|Busan]] and [[Jeju International Airport|Jeju]]. There are also many airports that were built as part of the infrastructure boom but are barely used.<ref>{{cite news |url=http://news.bbc.co.uk/2/hi/asia-pacific/8055957.stm |title=South Korea's abandoned airports |work=[[BBC News]] |date=18 May 2009 |access-date=28 March 2024 |archive-date=30 June 2018 |archive-url=https://web.archive.org/web/20180630112638/http://news.bbc.co.uk/2/hi/asia-pacific/8055957.stm |url-status=live }}</ref> There are also many [[heliports]].<ref>{{cite web|url=http://www.nationmaster.com/graph/tra_hel-transportation-heliports|title=Transportation Statistics > Heliports (most recent) by country|publisher=NationMaster|year=2008|access-date=21 February 2009|archive-date=9 October 2010|archive-url=https://web.archive.org/web/20101009175555/http://www.nationmaster.com/graph/tra_hel-transportation-heliports|url-status=live}}</ref> The national carrier [[Korean Air]] served over 26 million passengers, including almost 19 million international passengers in 2016.<ref>{{cite web |url=https://www.koreanair.com/global/en/about/who-we-are2/vision-statements-ethics/factsandfigures/ |title=Company Info |publisher=[[Korean Air]] |access-date=9 March 2018 |archive-date=26 June 2018 |archive-url=https://web.archive.org/web/20180626192613/https://www.koreanair.com/global/en/about/who-we-are2/vision-statements-ethics/factsandfigures/ |url-status=live }}</ref> A second carrier, [[Asiana Airlines]] also serves domestic and international traffic. Combined, South Korean airlines serve 297 international routes.<ref>{{cite web|url=http://english.mltm.go.kr/USR/WPGE0201/m_19549/DTL.jsp |title=International Aviation Policy |publisher=Ministry of Land, Transportation and Maritime Affairs |access-date=19 May 2005 |url-status=dead |archive-url=https://web.archive.org/web/20090915184454/https://english.mltm.go.kr/USR/WPGE0201/m_19549/DTL.jsp |archive-date=15 September 2009}}</ref> Smaller airlines, such as [[Jeju Air]], provide domestic service with lower fares.<ref>Lee Eun-joo (2 July 2010). [http://joongangdaily.joins.com/article/view.asp?aid=2922592 "If you're looking for a ticket to Jeju, leave late"] {{Webarchive|url=https://web.archive.org/web/20101021040426/http://joongangdaily.joins.com/article/view.asp?aid=2922592 |date=21 October 2010 }}. ''Joongang Daily'' (Seoul). Retrieved 15 July 2010.</ref> === Energy === {{Main|Energy in South Korea}} South Korea is the world's fifth-largest [[Nuclear power in South Korea|nuclear power producer]] and the third-largest in Asia {{As of|2010|lc=y}}.<ref name="koreanuke">{{cite news |url=https://thediplomat.com/2010/07/19/another-korean-nuclear-issue/ |title=Another Korean Nuclear Issue |work=The Diplomat |date=19 July 2010 |access-date=14 August 2010 |archive-date=4 September 2012 |archive-url=https://web.archive.org/web/20120904073323/http://thediplomat.com/2010/07/19/another-korean-nuclear-issue/ |url-status=live }}</ref> Supplying 45% of its electricity production, nuclear research is very active with investigation into a variety of advanced reactors, including a small modular reactor, a liquid-metal fast/[[nuclear transmutation#Artificial transmutation of nuclear waste|transmutation]] reactor and a high-temperature [[hydrogen]] generation design. Fuel production and waste handling technologies have also been developed locally. It is also a member of the [[ITER]] project.<ref>{{cite web |url=http://www.iter.org/proj/Countries |title=ITER Members |publisher=ITER |access-date=2 March 2017 |archive-date=15 March 2017 |archive-url=https://web.archive.org/web/20170315012916/http://www.iter.org/proj/Countries |url-status=live }}</ref> South Korea is an emerging exporter of [[nuclear reactors]], having concluded agreements with the United Arab Emirates to build and maintain four advanced nuclear reactors,<ref>{{cite news |url= https://www.reuters.com/article/idUSLDE5BQ05O20091227 |title= South Korea wins landmark Gulf nuclear power deal |work= Reuters |date= 29 December 2009 |access-date= 28 March 2024 |archive-date= 22 October 2020 |archive-url= https://web.archive.org/web/20201022112006/https://www.reuters.com/article/idUSLDE5BQ05O20091227 |url-status= live }}</ref> with [[Jordan]] for a research nuclear reactor,<ref>{{cite news |url=http://www.upi.com/Science_News/Resource-Wars/2010/03/31/South-Korea-Jordan-sign-130M-nuclear-deal/UPI-16251270062075/ |title=All systems go for Jordan's first nuclear reactor |publisher=UPI |date=31 March 2010 |access-date=18 September 2010 |archive-date=22 October 2012 |archive-url=https://web.archive.org/web/20121022080755/http://www.upi.com/Science_News/Resource-Wars/2010/03/31/South-Korea-Jordan-sign-130M-nuclear-deal/UPI-16251270062075/ |url-status=live }}</ref><ref>{{cite news |url= http://www.world-nuclear-news.org/NN-All_systems_go_for_Jordans_first_nuclear_reactor-2707107.html |title= South Korea-Jordan sign $130M nuclear deal |work= World Nuclear News |date= 27 July 2010 |access-date= 18 September 2010 |archive-date= 4 August 2012 |archive-url= https://web.archive.org/web/20120804103858/http://www.world-nuclear-news.org/NN-All_systems_go_for_Jordans_first_nuclear_reactor-2707107.html |url-status= live }}</ref> and with Argentina for construction and repair of heavy-water nuclear reactors.<ref>{{cite news |url=http://english.chosun.com/site/data/html_dir/2010/09/17/2010091700995.html |title=Korea, Argentina Sign MOU for Nuclear Plant Project |work=[[The Chosun Ilbo]] |location=Seoul |date=18 September 2010 |access-date=18 September 2010 |archive-date=29 August 2012 |archive-url=https://web.archive.org/web/20120829022619/http://english.chosun.com/site/data/html_dir/2010/09/17/2010091700995.html |url-status=live }}</ref><ref name="argentinanuke">{{cite news |url=http://www.upi.com/Top_News/Special/2010/09/17/Argentina-eyes-nuclear-role-in-S-America/UPI-72711284755722/ |title=Argentina eyes nuclear role in S. America |publisher=UPI |date=17 September 2010 |access-date=18 September 2010 |archive-date=4 August 2012 |archive-url=https://web.archive.org/web/20120804103858/http://www.world-nuclear-news.org/NN-All_systems_go_for_Jordans_first_nuclear_reactor-2707107.html |url-status=live }}</ref> {{As of|2010}}, South Korea and Turkey are in negotiations regarding construction of two nuclear reactors.<ref>{{cite web |url=https://www.koreatimes.co.kr/www/news/biz/2010/08/123_67686.html |title=Korea nearing Turkey nuclear plant contract |work=[[The Korea Times]] |location=Seoul |date=15 June 2010 |access-date=4 April 2015 |archive-date=26 June 2018 |archive-url=https://web.archive.org/web/20180626192346/https://www.koreatimes.co.kr/www/news/biz/2010/08/123_67686.html |url-status=live }}</ref> South Korea is also preparing to bid on construction of a light-water nuclear reactor for Argentina.<ref name="argentinanuke" /> South Korea is not allowed to [[Enriched uranium|enrich uranium]] or develop traditional uranium enrichment technology on its own, because of U.S. political pressure,<ref>{{cite news |url=https://www.nytimes.com/2010/07/14/world/asia/14seoul.html |work=[[The New York Times]] |title=U.S. Wary of South Korea's Plan to Reuse Nuclear Fuel |author=Choe Sang-Hun |date=14 July 2010 |access-date=18 February 2017 |archive-date=26 June 2018 |archive-url=https://web.archive.org/web/20180626194133/https://www.nytimes.com/2010/07/14/world/asia/14seoul.html |url-status=live }}</ref> unlike most major nuclear powers such as Japan, Germany, and France, competitors in the international nuclear market. This impediment to South Korea's indigenous nuclear industrial undertaking has sparked occasional diplomatic rows between the two allies. While successful in exporting its electricity-generating nuclear technology and nuclear reactors, it cannot capitalize on the [[Uranium market|market for nuclear enrichment facilities and refineries]], preventing it from further expanding its export niche. South Korea has sought unique technologies such as [[Nuclear reprocessing#Pyroprocessing|pyroprocessing]] to circumvent these obstacles and seek a more advantageous competition.<ref>{{cite web |url=http://www.armscontrol.org/act/2009_07-08/SouthKorea |title=S. Korean Pyroprocessing Awaits U.S. Decision |publisher=Arms Control Association |date=6 October 2010 |access-date=29 October 2010 |archive-date=30 October 2012 |archive-url=https://web.archive.org/web/20121030103028/http://www.armscontrol.org/act/2009_07-08/SouthKorea |url-status=live }}</ref> The U.S. has recently been wary of the burgeoning nuclear program, which South Korea insists will be for civilian use only.<ref name="koreanuke" /> South Korea is the 2nd highest ranked Continental Asian country in the World Economic Forum's [[Networked Readiness Index]] after Singapore—an indicator for determining the development level of a country's information and communication technologies. South Korea ranks 9th worldwide.<ref>{{Cite web |title=Countries – Network Readiness Index |url=https://networkreadinessindex.org/countries/ |access-date=2023-10-01 |website=networkreadinessindex.org |archive-date=28 September 2023 |archive-url=https://web.archive.org/web/20230928183112/https://networkreadinessindex.org/countries/ |url-status=live }}</ref> === Tourism === {{Main|Tourism in South Korea}} [[File:Haeundae Beach NightView.jpg|thumb|[[Haeundae Beach]] in [[Busan]]]] In 2019, more than 17 million foreign tourists visited South Korea.<ref>{{Cite book |title=UNWTO Tourism Highlights 2017 |last=UNTWO |date=July 2017 |doi=10.18111/9789284419029 |isbn=978-92-844-1902-9 |url=https://tede.ufrrj.br/jspui/handle/jspui/5202 |access-date=28 March 2024 |archive-date=4 April 2023 |archive-url=https://web.archive.org/web/20230404213946/https://tede.ufrrj.br/jspui/handle/jspui/5202 |url-status=live }}</ref> South Korean tourism is driven by many factors, including the prominence of Korean pop culture such as [[K-pop|South Korean pop music]] and [[Korean drama|television dramas]], known as the [[Korean Wave]] or ''Hallyu'', has gained popularity throughout East Asia. The Hyundai Research Institute reported that the Korean Wave has a direct influence on encouraging direct foreign investment back into the country through demand for products, and the tourism industry.<ref name="Korea Times">{{cite news|url=https://www.koreatimes.co.kr/www/news/biz/2014/08/488_163871.html |title=Hallyu fuels foreign investment in Korea |newspaper=[[The Korea Times]] |access-date=20 January 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150120095450/https://www.koreatimes.co.kr/www/news/biz/2014/08/488_163871.html |archive-date=20 January 2015}}</ref> Among East Asian countries, China was the most receptive, investing $1.4 billion in South Korea, with much of the investment within its service sector, a sevenfold increase from 2001. According to an analysis by economist Han Sang-Wan, a 1% increase in the exports of Korean cultural content pushes consumer goods exports up 0.083%, while a 1% increase in Korean pop content exports to a country produces a 0.019% bump in tourism.<ref name="Korea Times" /> === National pension scheme === The [[Pension policy in South Korea|South Korean pension system]] was created to provide benefits to persons reaching old age, families and persons stricken with death of their primary breadwinner, and for the purposes of stabilizing the nation's [[welfare state]].<ref name="Korea Labor Institute 1998">Bang, Ha-Nam, Study of Korean Corporations' Retirement Allowance Schemes, Korea Labor Institute, 1998.</ref> The structure is primarily based on taxation and is income-related.<ref>{{Cite web|url=http://www.umdcipe.org/conferences/policy_exchanges/conf_papers/Papers/1051.pdf|archive-url=https://web.archive.org/web/20161220030655/http://www.umdcipe.org/conferences/policy_exchanges/conf_papers/Papers/1051.pdf|url-status=dead|archive-date=20 December 2016|title=South Korea and Japan's Pension System Compared}}</ref> The system is divided into four categories distributing benefits to participants through national, military personnel, governmental, and private school teacher pension schemes.<ref>{{Cite web|url=http://www.oecd.org/finance/private-pensions/2763652.pdf|title=The Korean Pension System: Current State and Tasks Ahead|publisher=OECD|access-date=3 December 2016|archive-date=3 November 2018|archive-url=https://web.archive.org/web/20181103053303/http://www.oecd.org/finance/private-pensions/2763652.pdf|url-status=live}}</ref> The national pension scheme is the primary welfare system providing allowances to the majority of persons. Eligibility for the national pension scheme is not dependent on income but on age and residence, where those between the ages of 18 and 59 are covered.<ref name="National Pension Service">{{Cite web |title=Coverage |url=http://english.nps.or.kr/jsppage/english/scheme/scheme_01.jsp |url-status=dead |archive-url=https://web.archive.org/web/20160221082933/http://english.nps.or.kr/jsppage/english/scheme/scheme_01.jsp |archive-date=21 February 2016 |access-date=1 December 2016 |publisher=National Pension Service}}</ref> Anyone under 18 is a dependent of someone who is covered or under a special exclusion where they are allowed to alternative provisions.<ref name="SSA.GOV">{{Cite web|url=https://www.ssa.gov/policy/docs/progdesc/ssptw/2010-2011/asia/southkorea.html|title=Social Security Programs Throughout the World: Asia and the Pacific, 2010 – South Korea|publisher=U.S. Social Security Administration, Office of Retirement and Disability|access-date=1 December 2016|archive-date=3 December 2016|archive-url=https://web.archive.org/web/20161203131829/https://www.ssa.gov/policy/docs/progdesc/ssptw/2010-2011/asia/southkorea.html|url-status=live}}</ref> The national pension scheme is divided into four categories of insured persons – the workplace-based insured, the individually insured, the voluntarily insured, and the voluntarily and continuously insured. An old-age pension scheme covers individuals age 60 or older for the rest of their life as long as they have satisfied the minimum of 20 years of national pension coverage beforehand.<ref name="SSA.GOV" /> Summary: Please note that all contributions to Christianpedia may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here. You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see Christianpedia:Copyrights for details). Do not submit copyrighted work without permission! Cancel Editing help (opens in new window) Discuss this page