*Korea, South, Government
National Assembly:
last held on 24 March 1992; results - DLP 38.5%, DP 29.2%, Unification
National Party (UNP) 17.3% (name later changed to UPP), other 15%; seats -
(299 total) DLP 149, DP 97, UNP 31, other 22; the distribution of seats as
of May 1993 was DLP 167, DP 95, UPP 14, other 23
note:
the change in the distribution of seats reflects the fluidity of the current
situation where party members are constantly switching from one party to
another
Executive branch:
president, prime minister, two deputy prime ministers, State Council
(cabinet)
Legislative branch:
unicameral National Assembly (Kuk Hoe)
Judicial branch:
Supreme Court
Leaders:
Chief of State:
President KIM Young Sam (since 25 February 1993)
Head of Government:
Prime Minister HWANG In Sung (since 25 February 1993); Deputy Prime Minister
LEE Kyung Shick (since 25 February 1993) and Deputy Prime Minister HAN Wan
Sang (since 25 February 1993)
Member of:
AfDB, APEC, AsDB, CCC, COCOM (cooperating country), CP, EBRD, ESCAP, FAO,
G-77, GATT, IAEA, IBRD, ICAO, ICC, ICFTU, IDA, IFAD, IFC, ILO, IMF, IMO,
INMARSAT, INTELSAT, INTERPOL, IOC, IOM, ISO, ITU, LORCS, OAS (observer), UN,
UNCTAD, UNESCO, UNIDO, UPU, WHO, WIPO, WMO, WTO
Diplomatic representation in US:
chief of mission:
Ambassador HAN Seung Soo
chancery:
2370 Massachusetts Avenue NW, Washington, DC 20008
telephone:
(202) 939-5600
consulates general: Agana (Guam), Anchorage, Atlanta, Chicago, Honolulu, Houston, Los Angeles,
New York, San Francisco, and Seattle
US diplomatic representation:
chief of mission:
(vacant), Charge d'Affaires Raymond BURGHARDT
embassy:
82 Sejong-Ro, Chongro-ku, Seoul, AMEMB, Unit 15550
mailing address:
APO AP 96205-0001
telephone:
[82] (2) 732-2601 through 2618
FAX:
[82] (2) 738-8845
consulate:
Pusan
Flag:
white with a red (top) and blue yin-yang symbol in the center; there is a
different black trigram from the ancient I Ching (Book of Changes) in each
corner of the white field
*Korea, South, Economy
Overview:
The driving force behind the economy's dynamic growth has been the planned
development of an export-oriented economy in a vigorously entrepreneurial
society. Real GNP increased more than 10% annually between 1986 and 1991.
This growth ultimately led to an overheated situation characterized by a
tight labor market, strong inflationary pressures, and a rapidly rising
current account deficit. As a result, in 1992, focusing attention on slowing
the growth rate of inflation and reducing the deficit is leading to a
slow-down in growth. The economy remains the envy of the great majority of
the world's peoples.
National product:
GNP - purchasing power equivalent - $287 billion (1992 est.)
National product real growth rate:
5% (1992 est.)
National product per capita:
$6,500 (1992 est.)
Inflation rate (consumer prices):
4.5% (1992 est.)
Unemployment rate:
2.4% (1992 est.)
Budget:
revenues $48.4 billion; expenditures $48.4 billion, including capital
expenditures of $NA (1993)
Exports:
$76.8 billion (f.o.b., 1992)
commodities:
textiles, clothing, electronic and electrical equipment, footwear,
machinery, steel, automobiles, ships, fish
partners:
US 24%, Japan 15% (1992)
Imports:
$81.7 billion (c.i.f., 1992)
commodities:
machinery, electronics and electronic equipment, oil, steel, transport
equipment, textiles, organic chemicals, grains
partners:
Japan 24%, US 22% (1992)
External debt:
$42 billion (1992)
Industrial production:
growth rate 5.0% (1992 est.); accounts for about 45% of GNP
Electricity:
24,000,000 kW capacity; 105,000 million kWh produced, 2,380 kWh per capita
(1992)
Industries:
textiles, clothing, footwear, food processing, chemicals, steel,
electronics, automobile production, shipbuilding
Agriculture:
accounts for 8% of GNP and employs 21% of work force (including fishing and
forestry); principal crops - rice, root crops, barley, vegetables, fruit;
livestock and livestock products - cattle, hogs, chickens, milk, eggs;
self-sufficient in food, except for wheat; fish catch of 2.9 million metric
tons, seventh-largest in world
Economic aid:
US commitments, including Ex-Im (FY70-89), $3.9 billion; non-US countries
(1970-89), $3.0 billion
Currency:
1 South Korean won (W) = 100 chon (theoretical)
*Korea, South, Economy
Exchange rates:
South Korean won (W) per US$1 - 791.99 (January 1993), 780.65 (1992), 733.35
(1991), 707.76 (1990), 671.46 (1989), 731.47 (1988)
Fiscal year:
calendar year
*Korea, South, Communications
Railroads:
3,091 km total (1991); 3,044 km 1.435 meter standard gauge, 47 km
0.610-meter narrow gauge, 847 km double track; 525 km electrified,
government owned
Highways:
63,201 km total (1991); 1,551 expressways, 12,190 km national highway,
49,460 km provincial and local roads
Inland waterways:
1,609 km; use restricted to small native craft
Pipelines:
petroleum products 455 km
Ports:
Pusan, Inchon, Kunsan, Mokpo, Ulsan
Merchant marine:
431 ships (1,000 GRT or over) totaling 6,689,227 GRT/11,016,014 DWT;
includes 2 short-sea passenger, 138 cargo, 61 container, 11 refrigerated
cargo, 9 vehicle carrier, 45 oil tanker, 12 chemical tanker, 13 liquefied
gas, 2 combination ore/oil, 135 bulk, 2 combination bulk, 1 multifunction
large-load carrier
Airports:
total:
103
usable:
93
with permanent-surface runways:
59
with runways over 3,659 m:
0
with runways 2,440-3,659 m:
22
with runways 1,220-2,439 m:
18
Telecommunications:
excellent domestic and international services; 13,276,449 telephone
subscribers; broadcast stations - 79 AM, 46 FM, 256 TV (57 of 1 kW or
greater); satellite earth stations - 2 Pacific Ocean INTELSAT and 1 Indian
Ocean INTELSAT
*Korea, South, Defense Forces
Branches:
Army, Navy, Marine Corps, Air Force
Manpower availability:
males age 15-49 13,286,969; fit for military service 8,542,640; reach
military age (18) annually 432,434 (1993 est.)
Defense expenditures:
exchange rate conversion - $12.2 billion, 3.6% of GNP (1993 est.)