Korea recently pulled through an economic storm that began in late 1997. This
crisis, which roiled markets all across Asia, had threatened Korea's remarkable
economic achievements
Korea, once known to be one of the world's poorest agrarian societies, has
undertaken economic development in earnest since 1962. In less than four
decades, it achieved what has become known as the "Miracle on the Hangang River"
- an incredible process that dramatically transformed the Korean economy while
marking a turning point in Korea's history.
With a history as one of the fastest growing economies in the world, Korea is
working to become the focal point of a powerful Asian economic bloc during the
21st century
The goal of the nation is to overcome problems rooted in the past by creating an
economic structure suitable for an advanced economy.
Korea, once known to be one of the world's poorest agrarian societies, has
undertaken economic development in earnest since 1962
many successful development programs were implemented. As a result, from 1962 to
2006, Korea's Gross National Income (GNI) increased from US$2.3 billion to
US$887.3 billion, with its per capita GNI soaring from $87 to about $18,372.
·Bow and say good bye to each person when you are leaving a party
·Wait to be introduced at a social gathering
·Person of lower status bows to those of higher status
·Use both hands when you are giving a gift
·Arrive up to 30 minutes late for a dinner
·Take off your shoes before you enter a persons house
·Eldest person is served dinner first
·Wait to be seated don't sit until you are told so
When the war ended in 1945, the great majority of the people living in the
southern half of the Korean Peninsula were poor peasants.
Japanese colonial regime from 1910 to 1945 had promoted modernization of the
economy and society
By 1990 educational and public health standards were high, most people lived in
urban areas, and a complex structure of social classes had emerged that
resembled the social structures of developed Western countries or Japan. The
country also was making substantial progress in its evolution from a military
dictatorship similar to that of many Third World regimes to a democratic,
pluralistic political system.
As Korea's capital and most populous city, Seoul represents the country's center
for business, education, and modern culture. It offers many activities for
everyone, including museums and palaces, parks and mountains, and amusement
parks and night clubs.