Republic of Korea

Abstract

Wikipedia Country Information

South Korea, officially the Republic of Korea (abbreviated ROK), is a sovereign state in East Asia, constituting the southern part of the Korean Peninsula. Officially, its territory consists of the whole Korean Peninsula and its adjacent islands, which are largely mountainous. South Koreans lead a distinctive urban lifestyle, as half of them live in high-rises concentrated in the Seoul Capital Area with 25 million residents. The capital Seoul is the world's sixth leading global city with the fifth largest economy and is the seventh most sustainable city in the world.
The earliest neolithic Korean pottery dates to 8000 BC, with three kingdoms flourishing in the 1st century BC. The name Korea is derived from one of them, Goguryeo, which was one of the great powers in East Asia during its time, ruling most of the Korean Peninsula, Manchuria, some parts of the Russian Far East and Inner Mongolia, under Gwanggaeto the Great. Since the unification of the Korean kingdoms into Unified Silla and Balhae in the 7th century, Korea enjoyed over a millennium of relative tranquility under long-lasting dynasties. Koreans developed improved versions of many advanced innovations such as the metal movable type printing press, which used to print and publish the Jikji, the world's oldest extant movable metal type printed paper book in 1377. In the 15th century, Koreans had one of the highest living standards in the world, and Sejong the Great invented Hangul to promote literacy amongst the general Korean population, enabling anyone to easily learn to read and write and transfer written information rather than spend years in learning complicated Hanja. Its rich and vibrant culture left 19 UNESCO Intangible Cultural Heritages of Humanity, the third largest in the world, along with 12 World Heritage Sites.
Annexed into Imperial Japan in 1910, the country's current political structure dates back to 1919 when the Korean Provisional Government was organized in Shanghai, China as a government in exile and then moved to Chungking to resist the Japanese occupation of Korea. After Japan's surrender in 1945, Korea was divided along the 38th parallel with the United States controlling the southern part. This region was declared the First Korean Republic on August 15, 1948, but a North Korean invasion led to the Korean War (1950–1953) two years later. Peace has since mostly continued with the two agreeing to work peacefully for reunification and the South solidifying peace as a regional power with the world's 10th largest defense budget.
South Korea is one of the Four Asian Tigers. The South Korean economy soared at an annual average of 10% for over 30 years in a period of rapid transformation called the Miracle on the Han River. A long legacy of openness and focus on innovation made it successful. Today, it is the world's seventh largest advanced economy and fifth largest exporter with the G20's largest budget surplus and highest credit rating of any country in East Asia. It has free trade agreements with 75% of the world economy and is the only G20 nation trading freely with China, the US and the EU simultaneously. Since 1988, its constitution guarantees a liberal democracy with high government transparency and many fundamental rights such as universal healthcare. High personal freedoms led to the rise of a globally influential pop culture such as K-pop and K-drama, a phenomenon called the Korean Wave, known for its distinctive fashionable and trendy style. Home of the UN Green Climate Fund and GGGI, South Korea is a leader in low carbon green growth, committed to helping developing countries as a major DAC and Paris Club contributor. It is the world's third least ignorant country in the Index of Ignorance, ranking eighth highest for peaceful tolerance and inclusion of minorities on the Fragile States Index.
South Korea is a technologically advanced developed country driven by a highly educated and skilled workforce, having the world's eighth highest median household income, the highest in Asia. Globally, it ranks highly in personal safety, job security, ease of doing business and healthcare quality, with the world's third highest health adjusted life expectancy and fourth most efficient healthcare system. It is the world's largest spender on R&D per GDP, leading the OECD in graduates in science and engineering and ranking third in the Youth Wellbeing Index. Home of Samsung, LG and Hyundai-Kia, South Korea was named the world's most innovative country for 4 consecutive years since 2014 in the Bloomberg Innovation Index, ranking first in business R&D intensity, manufacturing value-added, patents filed per GDP, second in higher education efficiency and fourth in high-tech density and researcher concentration. In 2005, it became the world's first country to fully transition to high-speed Internet and today it has the world's fastest Internet speed and highest smartphone ownership, ranking first in ICT Development, e-Government and 4G LTE coverage. South Korea currently provides the world's second largest number of Christian missionaries, surpassed by the United States.
South Korea is a member of the United Nations, World Bank, World Health Organization, International Monetary Fund, Organisation for Economic Co-operation and Development, Asia-Pacific Economic Cooperation, G20 and a global partner of the North Atlantic Treaty Organization.


Summary
Instruments ratified: 153 / 282
World Average Ratifications: 114 / 282
Ratification rate: 57.31%
World Average Rate: 41.25%
Weighted score: 63.37%
World Average Weighted Score: 41.25%
World rank: 30 / 194
Developing country rank: 2 / 87
Developing country Avg. Ratifications: 109 / 282
Eastern Asia rank: 2 / 5
Eastern Asia Avg. Ratifications: 135 / 282
Comparative Statistical Analysis
CONTRACTS Inst. ratified Country score World avg. score Country rank in world Strength
Agency 0/2 0.00% 2.00% 8 Weak
Conflict of laws 0/7 0.00% 3.00% 27 Weak
E-commerce 1/3 (33.33%) 33.33% 18.00% 33 Strong
Franchising 0/1 0.00% 0.00% 1 Average
Leasing/Factoring 0/2 0.00% 5.00% 13 Weak
Principles, trade usages and standards 0/2 0.00% 0.00% 1 Average
Procurement 0/4 0.00% 3.00% 31 Weak
Sale of Goods 1/5 (20.00%) 45.45% 25.00% 29 Strong
Travel contracts 0/1 0.00% 3.00% 7 Weak
Total 2 14.49% 9.00% 37 Strong
 
CUSTOMS Inst. ratified Country score World avg. score Country rank in world Strength
Customs Codification 2/3 (66.67%) 100.00% 78.00% 1 Strong
Customs Cooperation 1/6 (16.67%) 33.33% 26.00% 71 Strong
Exemption from Duties 3/9 (33.33%) 25.93% 30.00% 89 Weak
Temporary Admission 6/11 (54.55%) 52.94% 28.00% 42 Strong
Transit 1/4 (25.00%) 27.27% 28.00% 62 Weak
Total 13 41.30% 31.00% 60 Strong
 
DISPUTE RESOLUTION Inst. ratified Country score World avg. score Country rank in world Strength
Arbitration 2/6 (33.33%) 50.00% 32.00% 29 Strong
Judicial cooperation 3/5 (60.00%) 78.95% 36.00% 42 Strong
Recognition of foreign judgments 0/2 0.00% 2.00% 6 Weak
State court jurisdiction 0/4 0.00% 14.00% 29 Weak
State court procedure 0/1 0.00% 6.00% 12 Weak
State immunities 0/1 0.00% 11.00% 22 Weak
Total 5 50.00% 29.00% 44 Strong
 
ENVIRONMENT AND PRODUCTS Inst. ratified Country score World avg. score Country rank in world Strength
Air 4/5 (80.00%) 80.00% 86.00% 59 Weak
Chemicals 1/1 (100.00%) 100.00% 78.00% 1 Strong
Energy 0/2 0.00% 25.00% 50 Weak
Flora and fauna 9/10 (90.00%) 89.13% 68.00% 17 Strong
Foodstuff 2/2 (100.00%) 100.00% 79.00% 1 Strong
General 1/1 (100.00%) 100.00% 95.00% 1 Weak
International watercourses 0/1 0.00% 18.00% 36 Weak
Maritime and Law of the Sea 19/26 (73.08%) 79.35% 46.00% 28 Strong
Protected geographical areas 1/1 (100.00%) 100.00% 27.00% 1 Strong
Waste 1/1 (100.00%) 100.00% 93.00% 1 Weak
Total 38 83.33% 61.00% 21 Strong
 
FINANCE, PAYMENTS AND INSOLVENCY Inst. ratified Country score World avg. score Country rank in world Strength
Assignment of receivables 0/1 0.00% 1.00% 2 Weak
Bankruptcy and insolvency 1/1 (100.00%) 100.00% 21.00% 1 Strong
Bills of exchange and promissory notes 0/4 0.00% 8.00% 43 Weak
Cheques 0/3 0.00% 13.00% 36 Weak
Credit transfers 0/1 0.00% 0.00% 1 Average
International guarantees 0/3 0.00% 20.00% 75 Weak
Total 1 12.20% 12.00% 85 Weak
 
GOOD GOVERNANCE Inst. ratified Country score World avg. score Country rank in world Strength
Corruption 3/4 (75.00%) 75.00% 50.00% 6 Strong
Cultural Property 2/4 (50.00%) 50.00% 54.00% 61 Weak
Drugs 3/3 (100.00%) 100.00% 95.00% 1 Weak
Insider Trading 0/1 0.00% 4.00% 9 Weak
Organized crime 2/2 (100.00%) 100.00% 80.00% 1 Strong
Total 10 76.92% 68.00% 50 Strong
 
HUMAN RIGHTS AND LABOUR STANDARDS Inst. ratified Country score World avg. score Country rank in world Strength
Human Rights 7/7 (100.00%) 100.00% 96.00% 1 Weak
Labour Standards 7/8 (87.50%) 87.50% 86.00% 134 Weak
Total 14 93.33% 91.00% 126 Weak
 
INSTITUTIONAL PARTICIPATION Inst. ratified Country score World avg. score Country rank in world Strength
Dispute Resolution 1/1 (100.00%) 100.00% 39.00% 1 Strong
International Trade Law 10/10 (100.00%) 100.00% 73.00% 1 Strong
Trade support institutions 6/6 (100.00%) 100.00% 51.00% 1 Strong
Total 17 100.00% 63.00% 1 Strong
 
INTELLECTUAL PROPERTY Inst. ratified Country score World avg. score Country rank in world Strength
Broadcasting 1/1 (100.00%) 100.00% 47.00% 1 Strong
Copyright 3/3 (100.00%) 100.00% 65.00% 1 Strong
Industrial designs 2/2 (100.00%) 100.00% 31.00% 1 Strong
Integrated circuits 0/1 0.00% 2.00% 4 Weak
Neighboring Rights 3/3 (100.00%) 100.00% 46.00% 1 Strong
Origin 0/3 0.00% 14.00% 51 Weak
Patents 4/5 (80.00%) 85.71% 57.00% 30 Strong
Trademarks 5/6 (83.33%) 86.36% 33.00% 20 Strong
Varieties of plants 1/1 (100.00%) 100.00% 37.00% 1 Strong
Total 19 83.16% 42.00% 25 Strong
 
INVESTMENTS Inst. ratified Country score World avg. score Country rank in world Strength
Investment disputes 1/2 (50.00%) 50.00% 39.00% 2 Strong
Investment guaranty 1/1 (100.00%) 100.00% 93.00% 1 Weak
Total 2 66.67% 57.00% 2 Strong
 
PRODUCTS Inst. ratified Country score World avg. score Country rank in world Strength
Marine Resources 1/1 (100.00%) 100.00% 24.00% 1 Strong
Timber 1/1 (100.00%) 100.00% 31.00% 1 Strong
General 1/1 (100.00%) 100.00% 92.00% 1 Weak
Total 3 100.00% 53.00% 1 Strong
 
TRANSPORT AND TELECOMMUNICATIONS Inst. ratified Country score World avg. score Country rank in world Strength
Air transport 3/7 (42.86%) 52.38% 59.00% 110 Weak
Aircrafts and civil aviation 5/9 (55.56%) 76.00% 74.00% 80 Weak
Maritime shipping and load lines 10/13 (76.92%) 85.71% 66.00% 55 Strong
Maritime transport 3/12 (25.00%) 20.83% 27.00% 103 Weak
Multi modal transport 0/2 0.00% 4.00% 15 Weak
Rail transport 0/3 0.00% 22.00% 50 Weak
Road transport 0/4 0.00% 31.00% 86 Weak
Space 3/4 (75.00%) 83.33% 40.00% 16 Strong
Telecommunications 2/2 (100.00%) 100.00% 47.00% 1 Strong
Total 26 51.35% 50.00% 92 Weak
 
TREATIES LAW Inst. ratified Country score World avg. score Country rank in world Strength
General 1/4 (25.00%) 41.67% 30.00% 41 Strong
Total 1 41.67% 30.00% 41 Strong
 
WTO Inst. ratified Country score World avg. score Country rank in world Strength
Plurilateral Agreements 1/2 (50.00%) 50.00% 18.00% 26 Strong
WTO Agreements 1/1 (100.00%) 100.00% 81.00% 1 Strong
Total 2 72.73% 47.00% 26 Strong
 
Strengths and Weakness
Strong
Contracts E-commerce
Contracts Sale of Goods
Customs Customs Codification
Customs Customs Cooperation
Customs Temporary Admission
Dispute resolution Arbitration
Dispute resolution Judicial cooperation
Environment and products Chemicals
Environment and products Flora and fauna
Environment and products Foodstuff
Environment and products Maritime and Law of the Sea
Environment and products Protected geographical areas
Finance, payments and insolvency Bankruptcy and insolvency
Good Governance Corruption
Good Governance Organized crime
Institutional Participation Dispute Resolution
Institutional Participation International Trade Law
Institutional Participation Trade support institutions
Intellectual property Broadcasting
Intellectual property Copyright
Intellectual property Industrial designs
Intellectual property Neighboring Rights
Intellectual property Patents
Intellectual property Trademarks
Intellectual property Varieties of plants
Investments Investment disputes
Products Marine Resources
Products Timber
Transport and telecommunications Maritime shipping and load lines
Transport and telecommunications Space
Transport and telecommunications Telecommunications
Treaties law General
WTO Plurilateral Agreements
WTO WTO Agreements
 
Average
Contracts Franchising
Contracts Principles, trade usages and standards
Finance, payments and insolvency Credit transfers
 
Weak
Contracts Agency
Contracts Conflict of laws
Contracts Leasing/Factoring
Contracts Procurement
Contracts Travel contracts
Customs Exemption from Duties
Customs Transit
Dispute resolution Recognition of foreign judgments
Dispute resolution State court jurisdiction
Dispute resolution State court procedure
Dispute resolution State immunities
Environment and products Air
Environment and products Energy
Environment and products General
Environment and products International watercourses
Environment and products Waste
Finance, payments and insolvency Assignment of receivables
Finance, payments and insolvency Bills of exchange and promissory notes
Finance, payments and insolvency Cheques
Finance, payments and insolvency International guarantees
Good Governance Cultural Property
Good Governance Drugs
Good Governance Insider Trading
Human Rights and Labour Standards Human rights
Human Rights and Labour Standards Labour Standards
Intellectual property Integrated circuits
Intellectual property Origin
Investments Investment guaranty
Products General
Transport and telecommunications Air transport
Transport and telecommunications Aircrafts and civil aviation
Transport and telecommunications Maritime transport
Transport and telecommunications Multi modal transport
Transport and telecommunications Rail transport
Transport and telecommunications Road transport
Instruments ratifications

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Historical Data

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