Currency/Money
The currency of South Korea is the Korean Won (₩). One ₩on is 0.00086 US Dollar. The ₩ seems very small compared to the United State Dollar, but bills are worth many ₩ons. If ever in Korea, Roughly 1000₩ is equivalent to $1.00.
Imports and Exports
Korea has many imports and exports. Korea exports a lot of agricultural products like rice, barley, roots, and others fruits and veggies. They also are a big supplier of automobiles and telecommunications. The car company Hyundai is a Korea company, as well as the worlds largest electronic provider, SamSung.
Korea imports many necessary fossil fuels including crude oil and petroleum, as well as textiles.
Korea imports many necessary fossil fuels including crude oil and petroleum, as well as textiles.
People in the Economy
Korea has a capitalist Economy. Korea has an unemployment of 3.6-4% of the population and a 14.6% of the people below the poverty line. The Korean distribution of family income (Gini index) is 30.2 as of a 2014 estimate.