South Korea - An Overview

Paper Summary:

The writer of this paper provides a brief history of the founding of South Korea and examines the country's current economic status. A table of vital economic statistics is included. The paper looks at what factors have effected the development of South Korea's economy and what the predictions are for the coming years.

From the Paper:

"A republic was set up in the southern half of the Korean Peninsula, after World War II, while at the same time a communist-style government was established in the north. The Korean War (1950-53) had Untied States and other United Nation forces interfered to defend South Korea from North Korean attacks was supported by the Chinese. In 1953, a peace agreement was signed at about the 38th parallel, dividing the peninsula along a demilitarized zone. South Korea, then after that attained rapid economic growth, with per capita income raised to thirteen times the level of North Korea. Furthermore, the nation suffered a severe financial crisis in 1997, from which it continued to make a firm revival and maintained its commitment to democratize its political processes. Thus, a historic first south-north summit, in June 2000, took place between the president south KIM Dae-jung and the north's head KIM Chong-i."

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