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 …show more content… 

South Korea's economy, traditionally based on agriculture, has, since the early 1960s, undergone an extraordinarily rapid industrialization; the gross domestic product (GDP) expanded by more than 9 percent yearly between the 1960s and the early 1990s. A series of five-year economic plans BEGUN in 1962 have concentrated on the development of manufacturing, much of it oriented toward exports. Economic aid, especially from the United States and Japan, was important to the economic growth of the country, which in the span of a generation grew from one of the world's poorest to a mid-ranking industrial power. In the early 1990s ESTIMATED annual national budget figures showed revenues and expenditures balanced at $48.4 billion.

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