A country of eastern Asia, South Korea occupies the southern part of the Korean peninsula. It makes up about 45 percent of the peninsula’s land area; North Korea covers the rest. United until the late 1940s, the two Korea's share much of their culture and history. Today, however, they are separated by a demilitarized zone that was established at the end of the Korean War in 1953. That conflict, which pitted the democratic South against the communist North, ended in a stalemate. Since then, tensions between the two Korea's have often run high. The South Korean economy has grown remarkably since the 1960s. During that period South Korea has transformed itself from a poor, agricultural society to one of the world’s most highly industrialized countries. Government and business leaders worked together to target specific industries for development, and beginning in 1962 this strategy was implemented in a series of economic development plans. In the 1980s the government began to reduce its role in the economy even as it continued to put forth its five-year plans. In the 1990s and early 21st century the economy moved further in the direction of private ownership and control. In 1996 South Korea joined the Organisation for Economic Co-operation and Development (OECD), an international organization with the goal of stimulating economic progress and world trade. A dominant force in South Korea’s economy are the huge business conglomerates called chaebol. The chaebol control much of the country’s industry and enjoy favorable treatment from the government. When the Asian financial crisis of 1997 shook South Korea’s economy, however, the chaebol structure took much of the blame. Thereafter the government took steps to loosen its ties to the conglomerates and to make them more open and accountable in their operations. despite the south Korean economy's high growth potential and apparent structural stability, south Korea suffers perpetual damage to its credit rating in the stock market die to the belligerence of north Korea adverse effect on the financial markets of the south Korea economy. however, renowned financial organization, such as the international monetary fund, also compliment the resilience of the south Korean economy against various economic crises, citing low state debt, and high fiscal reserves that can quickly be mobilized to address any expected finanical emergencies. other financial organizations like the world book describe Korea as one of the fastest growing major economies of the next generation along with BRIC and Indonesia.
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South Korea exports
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how Korea's money look like