- Capital City: Canberra
- General Information Official Language: De facto- English
- Currency: Korean Won / (KRW)
- Population (2024): 51.7 million (2024)
Political Overview
Government Type
Unitary state, Presidential system, Constitutional republic
Key Leaders
- President – Yoon Suk Yeol
- Prime Minister – Han Duck-soo
Political Stability Index
0.6 (2022)
International Alliances
- IBRD, OECD, ADB, EBRD, WB, WTO, IMO, IMF, APEC, IAEA, NATO, UN, G20, ILO, WHO
Economic Overview
GDP (Nominal)
$1.87 trillion (2024)
GDP (PPP)
$3.26 trillion (2024)
Key Industries
- Technology & Electronics
- Automotive
- Shipbuilding
- Services
- Manufacturing
Top 5 Importers/Exporters
The top exports of South Korea are Integrated Circuits ($121B), Refined Petroleum ($61.4B), Cars ($52.1B), Broadcasting Equipment ($24.2B), and Motor vehicles; parts and accessories (8701 to 8705) ($20B), exporting mostly to China ($150B, 22.8%), United States ($112B, 16.1%), Vietnam ($60.7B, 8.9%), Japan ($30.5B, 4.5%), and Hong Kong ($28.9B, 4%). In 2022, South Korea was the world’s biggest exporter of Blank Audio Media ($11.6B), Cyclic Hydrocarbons ($9.79B), Special Purpose Ships ($7.36B), Oxometallic or Peroxometallic Acid Salts ($4.68B), and Styrene Polymers ($3.93B).
The top imports of South Korea are Crude Petroleum ($89.1B), Integrated Circuits ($56.4B), Petroleum Gas ($46.9B), Coal Briquettes ($26.8B), and Refined Petroleum ($26.1B), importing mostly from China ($150B), United States ($73.6B), Japan ($50.8B), Australia ($41B), and Saudi Arabia ($36B).
As per 2024, top import countries include China (30.1%), European Union (15.5%), United States (15.1%), Japan (9.7%), Saudi Arabia (6.6%) , Australia (6.5%) Vietnam (6.1%), Taiwan (6.0%) In 2022, South Korea was the world’s biggest importer of Inorganic Salts ($4.02B), Starch Residue ($719M), Hydrides and other anions ($110M), Other Vegetable Fibers Fabric ($18.2M), and Wood Wool ($10.2M)
Social Indicators
Human Development Index
0.929 (19th)
Literacy Rate
98.8% (99.2% of males and 98.4% of females)
Life Expectancy
83.64 years (2024)
Geopolitical Relevance
Strategic Location
Korean Peninsula, North Korea border country, Yellow Sea, East China Sea and Sea of Japan. has proximity to key Asian markets (crucial for trade with China, Japan, and the rest of the Pacific). Near key military chokepoints (Korean Strait and the Tsushima Strait – vital naval passages for military and economic activities )
Key Conflicts
Taiwan Strait with China, Diplomatic isolation (not considered as sovereign state by many, claimed by China to be a part of its territory)
Border Issues
Taiwan-China (claimed by China as part of its territory. The Taiwan Strait remains a geopolitical fault line), Taiwan-Philippines Maritime Dispute (Scarborough Shoal and other outcroppings in the South China Sea)
Military Strength
2023 – armed forces estimate – between 169,000 and 180,000 active personnel and reserves at 1.65 million. Proposed overall defence spending of $19.1 billion for 2024. No formal military alliances, but backed by the U.S. through Taiwan Relations Act
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