Republic of Korea

Despite initially being economically outdone by its northern rival, South Korea achieved rapid economic growth starting in the 1960s under the leadership of former military general President Park Chung Hee. As one of the East Asian Tigers, the South Korean economy's industrialization and modernization efforts gained traction in the 1980s and 1990s, with per capita income rising to 20 times the level of North Korea. In 1996, South Korea joined the OECD or "the rich nations club". Today, South Korea has been recognized as an industrialized, developed economy with some of the world's leading high technology corporations such as Samsung and LG.

Demands for greater freedom of press and human rights fomented to nationwide demonstrations that led to democratic elections in 1987, just prior to the South Korean capital of Seoul hosting the 1988 Summer Olympic Games.

South Korea is now a liberal democracy and an economic powerhouse. In June 2000, a historic first summit took place between the South's President Kim Dae-jung and the North's late leader Kim Jong-il (leading Kim Dae-jung to be awarded the first Nobel Peace Prize for South Korea), but the peace process has moved at a glacial pace.

In recent years, a phenomenon known as the "Korean Wave" (or Hallyu) in which the popularity of South Korean film, television, music, food and other culture aspects has swept most of Asia and many other parts of the world has brought increased attention to the country.

See Also History Early history and founding of a nation Japanese occupation and division