South Korea Economic Profile

Key Facts

GDP:	$1.2 trillion (2011 estimate), ranked 13th in the world
Exchange rate:	1163.3886 (rate in currency units per U.S. dollar)
Inflation rate:	4 percent
Budget:	$268 billion (revenues), $242 billion (expenditures)
Budget Deficit:	2.2 % of GDP
Unemployment:	3.4%
Foreign Direct Investment:	$4.7 billion (in US dollars)

Sources: Federal Reserve, CIA Factbook, Organization for Economic Cooperation and Development (OECD), U.S. State Department

Market Data

Central Bank:	Bank of Korea
S&P:	A/Stable
Moody's:	A1/Positive
Fitch:	A+/Stable
International Reserves:	$198,554.071 (in millions of dollars)

Source: IMF

Importing & Exporting

Top Import Markets:	China, Japan, U.S., Saudi Arabia, Australia (2009)
Top Export Markets:	China, U.S., Japan, Hong Kong (2010)
Top Imports:	Machinery, Electronics, Oil, Steel, Transport Equipment (2010)
Top Exports:	Semiconductors, Wireless Telecommunications Equipment, Motor Vehicles, Computers, Steel (2010)
Balance of Trade:	$29.79 billion (2011 est.)

Source: CIA Factbook

Government and Legal

Form of Government:	Republic with powers nominally shared among the executive, legislature, and judiciary, but traditionally dominated by the president. As defined by the U.S. Department of State, South Korea uses a system of checks and balances.
Legal System:	Mixed legal system combining European civil law, Anglo-American law, and Chinese classical thought

Sources: U.S. State Department, CIA Factbook