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South Korea did create some important government enterprises; i.e., Pohang Iron and Steel Company, Korea Telecommunications Authority, Korea Electric Power Corporation, the Office of the Railroad, and Korea Monopoly Corporation (for tobacco and ginseng products). The public sector provided 80-90 percent of the financial services, two thirds of the gas, electricity and water supplies, 30 percent of transportation and communications, 30 percent of mining, and 15 percent of manufacturing.

IN THE FIRST THREE decades after the Park Chung Hee government launched the First Five-Year Economic Development Plan in 1962, the South Korean economy grew enormously and the economic structure was radically transformed. South Korea's real gross national product (GNP) expanded by an average of more than 8 percent per year, from US$2.3 billion in 1962 to US$204 billion in 1989. Per capita annual income grew from US$87 in 1962 to US$4,830 in 1989. The manufacturing sector grew from 14.3 percent of the GNP in 1962 to 30.3 percent in 1987. Commodity trade volume rose from US$480 million in 1962 to a projected US$127.9 billion in 1990. The ratio of domestic savings to GNP grew from 3.3 percent in 1962 to 35.8 percent in 1989.

Seoul recently agreed to reopen its market to most U.S. beef cuts, lifting a five-year ban placed after the outbreak of the first mad cow case in the United States. The decision reached on April 18 is expected to permit U.S. beef shipments to arrive here around in mid May.

"We are very pleased that Korea has taken the decision," Vershbow said, "And this agreement is based on international scientific standards, which I think is the only policy for trading nations that they want to observe, that they want to have healthy economic relations with other nations."The Lee Myung-bak administration, however, faced mounting domestic criticism for rushing to the beef agreement despite lingering concerns over mad cow disease and feared impact on the local cattle industry

Resuming U.S. beef imports has been considered a key condition for Seoul gaining U.S. ratification of the free trade agreement

Korea is connected by air to every major capital in the world

37 international airlines

over 1,500 flights into and out of Korea every week

It is customary to bring a small gift when visiting a South Korean home. It's better to bring a small token and not an ostentatious object that calls attention to you. Fruit, flowers, and chocolates are popular gifts for these occasions.

South Koreans generally sit, eat, and sleep on the floor, so you will be expected to remove your shoes upon entering a South Korean home and some schools and restaurants. Bare feet may be offensive to people of the older generations, so it's best to wear socks when visiting (be sure they're clean and free of holes! 

In addition to chopsticks, South Koreans regularly use soup spoons at meals. The chopsticks are used primarily for side dishes, while the spoon is used for soup and rice. Unlike in Japan, it's not appropriate to pick up your rice bowl while eating. All plates and bowls should stay on the table. Drinking customs in South Korea are also different than in Japan. Use both hands when pouring a drink for someone, because it shows respect. Though filling a companion's glass with beer or soju (similar to vodka) is appropriate, it's essential that the glass is completely empty before pouring. This may seem like a trivial concern, but will count for a lot in the eyes of your South Korean friends.

The Korean public education structure is divided into three parts: six years of primary school, followed by three years of middle school and then three years of high school

The primary curriculum consists of nine principal subjects: moral education, Korean language, social studies, mathematics, science, physical education, music, fine arts, and practical arts.

High schools are divided into academic and vocational schools

Family welfare is much more important than the needs of the individual.

Meeting Etiquette

Wait to be introduced at a social gathering.