South Korea Country profile

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April 2019

South Korea is renowned for having one of the most rapidly evolving economies, becoming a high income country from one of the world’s poorest countries in one generation. South Korea is now the fourth largest economy in Asia and the 11th largest in the world. Even though per capita incomes in South Korea lag most advanced economies, growth and business climate outperform.

This chart is a cobweb diagram showing how a country measures up on four important dimensions of economic performance—per capita income, annual GDP growth, business climate and creditworthiness. Per capita income is in current US dollars between 2018 and 2023 as provided by the IMF. Annual GDP growth is the average between 2018 and 2023. Business climate is measured by the World Bank’s Ease of Doing Business ranking of 190 countries. Creditworthiness attempts to measure a country’s ability to honour its external debt obligations and is measured by its OECD country credit risk rating. The chart shows not only how a country performs on the four dimensions, but how it measures up against other comparable countries.