Part 403

Legal system: combines elements of continental European civil law systems, Anglo-American law, and Chinese classical thought

Suffrage: 20 years of age; universal

Executive branch: chief of state: President KIM Yong-sam (since 25 February 1993) was elected by popular vote for a five-year term; election last held 18 December 1992 (next to be held NA December 1997); results - KIM Yong-sam (DLP) 41.9%, KIM Tae-chung (DP) 33.8%, CHONG Chu-yong (UPP) 16.3%, other 8% head of government: Prime Minister YI Su-song (since 15 December 1995) was appointed by the president with the consent of the National Assembly; Deputy Prime Ministers NA Ung-pae (since 20 December 1995) and KWON O-ki (since 20 December 1995) were appointed by the president on the prime minister's recommendation cabinet: State Council was appointed by the president on the prime minister's recommendation

Legislative branch: unicameral National Assembly (Kukhoe): members elected for four-year terms; elections last held 11 April 1996 (next to be held NA 2000); results - percent of vote by party NA; seats - (299 total) NKP 139, NCNP 79, ULD 50, DP 15, independents 16

Judicial branch: Supreme Court, justices are appointed by the president subject to the consent of the National Assembly

Political parties and leaders: majority party: New Korea Party (NKP), KIM Yong-sam, president opposition: United Liberal Democratic Party (ULD), KIM Chong-p'il, president; Democratic Party (DP), KIM Won-ki, co-chairman and CHANG Ul-pyong, co-chairman; National Congress for New Politics (NCNP), KIM Tae-chung, president

Other political or pressure groups: Korean National Council of Churches; National Democratic Alliance of Korea; National Federation of Student Associations; National Federation of Farmers' Associations; National Council of Labor Unions; Federation of Korean Trade Unions; Korean Veterans' Association; Federation of Korean Industries; Korean Traders Association

International organization participation: AfDB, APEC, AsDB, CCC, CP, EBRD, ESCAP, FAO, G-77, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Intelsat, Interpol, IOC, IOM, ISO, ITU, MINURSO, OAS (observer), OSCE (partner), UN, UNCTAD, UNESCO, UNIDO, UNMOGIP, UNOMIG, UNU, UPU, WHO, WIPO, WMO, WToO, WTrO

Diplomatic representation in US: chief of mission: Ambassador PAK Kun-u chancery: 2450 Massachusetts Avenue NW, Washington, DC 20008 telephone: (202) 939-5600, 524-9273 consulate(s) general: Agana (Guam), Anchorage, Atlanta, Boston, Chicago, Honolulu, Houston, Los Angeles, Miami, New York, San Francisco, and Seattle

US diplomatic representation: chief of mission: Ambassador James T. LANEY embassy: 82 Sejong-Ro, Chongro-ku, Seoul mailing address: American Embassy, Unit 15550, APO AP 96205-0001 telephone: (2) 397-4114 FAX: (2) 738-8845 consulate(s): Pusan

Flag: white with a red (top) and blue yin-yang symbol in the center; there is a different black trigram from the ancient I Ching (Book of Changes) in each corner of the white field

Economy -------

Economic overview: As one of the Four Dragons of East Asia, South Korea has achieved an incredible record of growth. Three decades ago its GDP per capita was comparable with levels in the poorer countries of Africa and Asia. Today its GDP per capita is nine times India's, 14 times North Korea's, and already up with the lesser economies of the European Union. This success has been achieved by a unique combination of authoritarian government guidance of what is at bottom an essentially entrepreneurial process. The government has sponsored large-scale adoption of technology and management from Japan and other modern nations; has successfully pushed the development of export industries while encouraging the import of machinery and materials at the expense of consumer goods; and has pushed its labor force to a work effort seldom matched anywhere even in wartime. Real GDP grew by an average 10% in 1986-91, then paused to a "mere" 5% in 1992-93, only to move back up to 8% in 1994 and 9% in 1995. With a much higher standard of living and with a considerable easing of authoritarian controls, the work pace has softened. Growth rates will probably slow down over the medium term because of the exhaustion of former growth opportunities and the need to deal with pollution and the other problems of success.

GDP: purchasing power parity - $590.7 billion (1995 est.)

GDP real growth rate: 9% (1995)

GDP per capita: $13,000 (1995 est.)

GDP composition by sector: agriculture: 8% industry: 45% services: 47% (1991 est.)

Inflation rate (consumer prices): 4.3% (1995 est.)

Labor force: 20 million by occupation: services and other 52%, mining and manufacturing 27%, agriculture, fishing, forestry 21% (1991)

Unemployment rate: 2% (1995 est.)

Budget: revenues: $69 billion expenditures: $67 billion, including capital expenditures of $NA (1995 est.)

Industries: electronics, automobile production, chemicals, shipbuilding, steel, textiles, clothing, footwear, food processing

Industrial production growth rate: 12.2% (1995 est.)

Electricity: capacity: 28,750,000 kW production: 165 billion kWh consumption per capita: 2,899 kWh (1994)

Agriculture: rice, root crops, barley, vegetables, fruit; cattle, pigs, chickens, milk, eggs; fish catch of 2.9 million metric tons, seventh largest in world

Exports: $125.4 billion (f.o.b., 1995) commodities: electronic and electrical equipment, machinery, steel, automobiles, ships; textiles, clothing, footwear; fish partners: US 19%, Japan 14%, EU 13%

Imports: $135.1 billion (c.i.f., 1995) commodities: machinery, electronics and electronic equipment, oil, steel, transport equipment, textiles, organic chemicals, grains partners: Japan 24%, US 22%, EU 13%

External debt: $77 billion (1995 est.)