Legislative branch: unicameral National Assembly (Kukhoe): elections 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 January 1994 was DLP 172, DP 96, UPP 11, other 20 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
Judicial branch: Supreme Court
Political parties and leaders:
majority party: Democratic Liberal Party (DLP), KIM Yong-sam,
president
opposition: Democratic Party (DP), YI Ki-taek, executive chairman;
United People's Party (UPP), KIM Tong-kil, chairman; several smaller
parties
note: the DLP resulted from a merger of the Democratic Justice Party
(DJP), Reunification Democratic Party (RDP), and New Democratic
Republican Party (NDRP) on 9 February 1990
Other political or pressure groups: Korean National Council of
Churches; National Democratic Alliance of Korea; National Federation
of Student Associations; National Federation of Farmers' Associations;
National Council of Labor Unions; Federation of Korean Trade Unions;
Korean Veterans' Association; Federation of Korean Industries; Korean
Traders Association
Member of: AfDB, APEC, AsDB, CCC, CP, EBRD, ESCAP, FAO, G-77, GATT,
IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF,
IMO, INMARSAT, INTELSAT, INTERPOL, IOC, IOM, ISO, ITU, OAS (observer),
UN, UNCTAD, UNESCO, UNIDO, UNU, UPU, WHO, WIPO, WMO, WTO
Diplomatic representation in US: chief of mission: Ambassador PAK Kun-u chancery: 2450 Massachusetts Avenue NW, Washington, DC 20008 telephone: [1] (202) 939-5600 consulate(s) general: Agana (Guam), Anchorage, Atlanta, Boston, Chicago, Honolulu, Houston, Los Angeles, Miami, New York, San Francisco, and Seattle
US diplomatic representation:
chief of mission: Ambassador James T. LANEY
embassy: 82 Sejong-Ro, Chongro-ku, Seoul
mailing address: American Embassy, Unit 15550, Seoul; APO AP
96205-0001
telephone: [82] (2) 397-4114
FAX: [82] (2) 738-8845
consulate(s): 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 GDP 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, economic policy focused on slowing the growth rate of inflation and reducing the deficit. Annual growth slowed to 5%, still above the rate in most other countries of the world, and recovered to 6.3% in 1993. The economy expanded by 8.3% in 1994, driven by booming exports.