Economy
Free Market Economy
Currency: 1 dollar - 1038.05 won
Minimum wage - 5,210 won (US$4.57)
GDP (PPP):
- $1.6 trillion
- 2.0% growth
- 2.9% 5-year compound annual growth
- $32,272 per capita
Agriculture: 2.6%, industry: 39.2%, services: 58.2% (2010)
Unemployment rate: 3.3%
Inflation (CPI):
- 2.2%
- FDI Inflow:
- $9.9 billion
China 24.4%
United States 10.1%
Japan 7.1% (2011 est.)
Main import partners
China 16.5%
Japan 13.0%
United States 8.5%
Saudi Arabia 7.1%
Australia 5.0% (2011 est.)
Ease-of-doing-business rank: 7th
The Korean food market is currently $45.7 Billion and expects to grow at 5.6% to $53.5 Billion by 2013