- Capital City: Seoul
- General Information Official Language: Korean
- 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
Korean Peninsula conflict with North Korea (only armistice agreement, having Demilitarized Zone (DMZ) as the de facto border between North Korea and South Korea), Dispute with Japan over the Dokdo/Takeshima Islands
Border Issues
With North Korea over DMZ, South Korea-Japan Dispute over Dokdo/Takeshima Islands
Military Strength
2022 – Active military personnel – 500,000 and reserve personnel of 3.1 million, In 2024, allocated approximately 59 trillion South Korean won for defence budget. U.S. – South Korea Mutual Defense Treaty, QUAD, UN Command
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