Capital: Seoul
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Introduction South Korea has emerged from poverty to become a north Asian economic powerhouse. It has left behind years of turbulent, authoritarian rule to establish a peaceful democratic government. Domestic and international relations continue to be dominated by the threat of war with neighbouring North Korea, and the prospect of reunification.
Issues
History Scientists believe the Korean peninsula was first inhabited in about 3000 BCE, with the arrival of nomads from the Asian mainland. The peninsula was ruled over the centuries by a series of kingdomms, with frequent interventions from China. The Korean peninsula was conquered in 1904 by Japan, which formally annexed it as a colony in 1910. Following Japan's retreat from Korea at the end of World War Two, the Korean Peninsula was formally divided into two in 1948, forming the Democratic People's Republic of North Korea and the Republic of Korea. By 1950, tension between the two Koreas boiled over and a full scale war broke out, lasting three years and costing an estimated two million lives. In 1953 the peninsula was split along a demilitarised zone at the 38th parallel. However, because no formal peace pact has ever been signed North Korea is still 'officially' at war with the South. The South is believed to spend about $US12.8 billion annually on defence and maintains an army of 560,000. It is backed up by the 38,000 US troops permanently stationed in and around the peninsula. However, anti-US sentiment is growing among South Koreans, and the US is planning to redeploy many of its troops away from the Demilitarised Zone and reduce its troops in the country by a third. Since 1948, relations between North and South Korea have been dominated by the question of reunification. When president Kim Dae Jung came to power in 1998 he announced a 'Sunshine Policy' of greater engagement with the North. Reunification was top of the agenda in June 2000 when North Korean leader Kim Jong-il welcomed Kim Dae Jung to Pyongyang for the first ever leaders' summit. The Sunshine Policy suffered a blow in October 2002 when the US announced North Korea had re-started a secret nuclear weapons program. The subsequent stand-off between the US and North Korea has strained relations between the South, a US ally, and North Korea. In his inauguration speech of 25 February 2003, president Roh Moo Hyun promised to build South Korea into a 'hub of Northeast Asia', to improve inter-Korean relations and lead the region to an 'an era of peace and prosperity'. His presidency so far has been tainted by allegations of corruption against several of his former aides and in early 2004 President Roh's very position was under threat, when parliament voted to impeach him for breaching a minor election law. However, the decision was reversed by the country's Constitutional Court. In October, 2006, the United Nations General Assembly elected South Korea's foreign minister, Ban Ki-moon, as the world body's eighth secretary general. He takes over the office from Kofi Annan in January 2007. Government South Korea has always been a republic, but for much of its history it has been under effective military dictatorship or undemocratic government. Democracy only began to emerge during the late 1980s, and the 1997 election of Kim Dae Jung as president marked the first peaceful handover of power to an opposition candidate in the country's history. Under the 1987 constitution, elections are held every five years for president, who is only allowed a single term in office. President Roh Moo Hyun was inaugurated in February 2003. The National Assembly or parliament is elected every four years. South Korea has a three tier judicial system. The Supreme Court the highest court - its decisions are final and binding. Grassroots politics and organised labour is strong with frequent large-scale, and sometimes violent, demonstrations on contentious issues. Economy South Korea has made remarkable progress in the past 50 years, growing from an impoverished agrarian economy to rank among the top 10 industrialised nations in the world. Rapid export growth, high rates of consumption and investment in housing have been the main contributors to the growth. The economy is dominated by the 'chaebol' system, which comprises a few large conglomerates that have, since the 1960s, enjoyed favourable treatment from the government in return for tailoring their growth and production targets to meet government objectives. South Korea's economy suffered badly during the 1997 Asian economic crisis, with much of the blame directed at the inflexible chaebols. But it recovered well under the leadership of former President Kim Dae Jung. President Kim tried to tackle the chaebols, a challenge that has been taken up by his successor, Roh Moo Hyun. South Korea's traditional trade and financial links with the United States are being gradually replaced with trade with other Asian nations. Exports to China, Hong Kong and Taiwan have overtaken those to the United States. South Korea's main exports include electronic products, machinery and equipment, motor vehicles, steel, ships and textiles. |
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