Economy of South Korea
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South Korea has a highly developed mixed economy. By nominal GDP, the economy was worth ₩2.56 quadrillion. It has the 4th largest economy in Asia and the 13th largest in the world as of 2025. South Ko
Seoul, Seocho District in Seoul is one of Korea's major financial and business centers.
South Korean President Park Geun-hye at a breakfast meeting with chaebol business magnates Lee Kun-hee and Chung Mong-koo in 2013
Cultivated fields in Gyeongju, South Korea (2006), display intensive use of land, dominated by the rice crop.
Andong-Hahoe Folk Village (2005) showing high-productivity rice field
1997 Asian financial crisis
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The 1997 Asian financial crisis gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effec
Economy of South Korea
…domestic projects." Expanding aggressively, many South Korean companies became highly leveraged. Multiple chaebol began going bankrupt in early 1997. The 1997 Asian financial crisis began after several other Asian currencies were attacked by speculators. The Korean won started to depreciate in August 1997. The problem was exacerbated…
Rioters in Jakarta, during the May 1998 riots of Indonesia
Fall of Suharto: President Suharto resigns, 21 May 1998.