A Modern Nation and Economic Power
South Korea is a presidential republic consisting of 17 administrative divisions. It is a highly developed nation with a very high standard of living.
It is the fourth-largest economy in Asia and the world’s 12th-largest by purchasing power parity. The economy is driven primarily by exports, with a strong focus on electronics, cars, ships, machinery, petrochemicals and also robotics. South Korea is a proud member of the United Nations, WTO and OECD. It is also a founding member of APEC and the East Asia Summit.
Seoul, the nation’s capital, has a population of 9.8 million, but the metropolitan area (Seoul National Capital Area) has a population of 24.5 million, making it the second-largest metropolitan and the most densely populated area in the OECD. Other major cities include Busan (3.5 million), Incheon (2.5 million), Daejeon (1.4 million), Gwangju (1.4 million) and Ulsan (1.1 million).
High Population Density and a Huge Real Estate Opportunity
South Korea has a population density that is more than 10 times the global average and is one of the most homogeneous nations in the world. More than 99% of South Korean residents have Korean ethnicity. Koreans ofter call their society “the single race society.”
South Korea can be divided into four general regions, including an eastern region of high mountain ranges and coastal plains; a western region of broad coastal plains, river basins and rolling hills; a southwestern region of mountains and valleys; and a southeastern region dominated by the broad basin of the Kakdong river.
Find out more about the country of South Korea from Bill, including:
- What Keller Williams Worldwide is looking for in a potential country partner
- Why the Keller Williams Realty story so unique
- How to start the process of finding out if you might be a good match
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