Overview of South Korea
The Republic of Korea, situated on the Korean Peninsula in East Asia, is commonly referred to as Korea or Daehan. This liberal democratic nation seamlessly integrates principles of liberalism and democracy, operating within a multi-party system with the president at its core. Established on August 15, 1948, in the aftermath of the March 1st Movement and in alignment with the legal legacy of the Provisional Government of the Republic of Korea proclaimed on April 11, 1919, the Republic of Korea embraced capitalism and liberal democracy.
The commencement of the division between North and South Korea during the First Republic of Korea marked a pivotal moment when North Korea's unlawful surprise invasion of the South triggered the Korean War. Subsequently, the nation faced a severe national crisis that relegated it to one of the world's poorest countries. Post-armistice, South Korea, strategically positioned at the forefront of the Cold War, garnered support from the United Nations as a key ally of the United States. Under the military regime following the Third Republic of Korea, the country underwent rapid growth through a concerted focus on exports and manufacturing.
The culmination of democratic evolution and economic progress materialized with the June Struggle in 1987, prompting the 9th constitutional amendment and the establishment of the 6th Republic of Korea, a legacy that endures to this day. Notably, Korea transitioned from being a recipient of aid to becoming a donor country after joining the OECD.
Internationally, Korea is a member of the G20, a summit representing 20 major nations. Today, Korea's cultural impact extends globally, notably through its influential contributions to movies, dramas, K-POP, online games, and webtoons. Economically, it stands as the 12th largest GDP, solidifying its status as an economic powerhouse and advanced country, ranking 9th in foreign exchange reserves, 5th in exports, and 8th in imports. Additionally, Korea holds regional influence, ranking 8th globally in defense spending and 6th in GFP worldwide.
