South Korea's Economy

Agriculture is the economic mainstay of South Korea. About 40% of South Koreans work in agriculture, forestry, and fishing. The average farm is has only 2 ½ acres of land. Rice is grown is summer and grains are grown in the winter months. South Korea catches enough fish to meet domestic demand and even have a little left over to export. During World War II much of the forest in South Korea were overcut. Today the forests are growing again but lumber must be imported to meet demand.

Before splitting from North Korea, South Korea had little manufacturing industry. Today they have much more industry and make ships, automobiles, and textiles. Clothing and textiles make up two thirds of the export value.

The main trading partners of South Korea are the United States and Japan. Private companies are in charge of most sectors of the economy except for the major transportation, communication, and power plant facilities. These are owned and run by the government.

Economy Links of Interest

• Bank Of Korea
• Korea Stock Exchange
• Korea Stock Information - updates on stocks, bond, futures, and options in text and graphic forms.