Business+and+Economy

The economy of South Korea is developed and the 4th in Asia and the 13th in the world. From the mid to late 20th century, it has had one of the fastest rates of prolonged economic growth in modern world history. The nation's GDP per capita has grown from only $100 in 1963 to a record-breaking $10,000 in 1995 in less than 40 years to a fully developed $25,000 in 2007. This phenomenon has been refered to as the "Miracle on the Han River". Furthermore, South Korea is still one of the fastest developing developed country with an average GDP growth of 5% per year- the most recent analysis report by Goldman Sachs in 2007 shows that South Korea will become the world's 3rd richest country by 2025 with a GDP per capita of $52,000 and 25 years later, is to surpass all countries in the world except the United States to become the world's 2nd richest country with a GDP per capita of $81,000. Main industries: electronics, automobile production, chemicals, shipbuilding, steel, textiles, footwear, food processing. Main export partners as of 2006: The People's Republic of China (21.3%), U.S. (13.3%), Japan (8.1%), Hong Kong (5.9%) Unemployment as of 2006: 3.3% Population below poverty line as of 2006: 2% Labor Force as of 2006: 2398 million Labor Force by occupation: agriculture-6.4%, industry-26.4%, services-67.2%
 * Business and Economy of South Korea **
 * Agriculture - products: ** rice, root crops, barley, vegetables, fruit; cattle, pigs, chickens, milk, eggs; fish
 * Exports - commodities: ** electronics (5000 of Export - 2004 statistics) - semiconductors, LCD panel, mobile phone, computers related, television, and others], motor vehicle, steel, ships, petrochemicals
 * Imports - commodities: ** machinery, electronics and electronic equipment, oil, steel, transport equipment, organic chemicals, plastics