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| Politics |
Political
System
Korea is a democratic republic
with power centralized in an executive
president. Regional autonomy has
been established in 1995.
Constitution
Promulgated on July 17, 1948,
the Korean constitution guarantees
individual rights and calls for
three independent branches of
government: legislative, judicial,
administrative.
Government
On August 15, 1948, the government
of the First Republic was born.
Kim Dae-jung was elected president
in December 1997 and inaugurated
as the 15th President of the Republic
of Korea on February 25, 1998.
He calls his administration "the
Government of the Citizens."
It was created through the first
ever peaceful transfer of power
between the ruling and an opposition
party in the 50 years of modern
Korean political history since
August 15, 1945, when the country
was liberated from Japan.
Administrative districts : 1 capital
city, 6 metropolitan cities, and
9 provinces with 72 cities (si)
and 91 counties (gun).
National
Assembly
A unicameral system. There are
two major parties : the ruling
party, the Millenium Democratic
Party has 119 assembly seats,
while the opposition party, the
Grand National Party has 133 seats.
(As of Jul. 2000)
Judicial
System
Three courts make up the judiciary:
the Supreme Court, the High Court,
and the District Court.
Up to three appeals may be made.
There is also a Constitutional
Court.
South and
North Korea
The recent changes to the power
structure in North Korea and the
easing tension in the peninsula
have resulted in increased interests
in the settlement of permanent
peace in the Korean peninsula
and investment opportunities and
trade, and the accelerated efforts
to resume bilateral dialogue between
South and North korea with the
eventual goal of reunification.
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Economy
Since the end of the Korean War
in 1953, the Republic of Korea
has achieved astounding economic
growth, sometimes referred to
as the "Miracle on the Hangang
River." The areas of strongest
development are still shipbuilding,
semiconductors and consumer electronics,
although the Korean automobile
industry is rapidly gaining footholds
in overseas markets. Korea is
aiming to enter the 21st century
with a restructured industrial
model that will allow her to compete
successfully in the free world
market. Korea has been invited
to join the Organization for Economic
Cooperation and Development (OECD)
as the 29th member in 1996.
Link : http://www.cia.gov/cia/publications/factbook/geos/ks.html#Econ
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Exports :
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$159.2 billion f.o.b.
(2002 est.)
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As of 2002
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Imports :
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$146.6 billion f.o.b.
(2002 est.)
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GDP :
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purchasing power parity
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$931 billion (2002 est.)
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GNI :
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US$ 402.1 billion
(Per capita GNI : US$
8,581)
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Economy Growth Rate
: 6.5% (2002 est.)
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