Table 11.1 summarizes the trend of some key indicators regarding the Republic
of Korea’s economic growth and social development. As shown in the table,
the Republic of Korea enjoyed a rapid economic growth rate from 1960 onward,
even though the momentum has slowed since the Asian crisis of 1997/1998.
By 2010, the country’s GDP per capita surpassed $20,000, firmly placing it in
the echelons of high-income countries. It is also among the world’s 15 largest
economies. Both inflation and unemployment have remained generally low.
By any measure, the Republic of Korea’s performance has been spectacularly
successful.