Republic of Korea

Wikipedia Country Information

South Korea ([saʊθ kəˈri:ə], listen), 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, and some parts of the Russian Far East and Inner Mongolia under Gwanggaeto the Great. Since the unification of the Korean kingdoms into Later 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 among the general Korean population, enabling anyone to easily learn to read and write and transfer written information rather than spending years learning complicated ancient Chinese. 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, Korea was divided after its surrender in 1945, but a North Korean invasion led to the Korean War (1950–1953). 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 defence budget.
South Korea, along with Taiwan, Singapore and Hong Kong (China) is one of the four high-tech industrialized developed countries often referred to as the Four Asian Economic Dragons. 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.


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
CONTRACTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Agency0/20.00%2.00%8Weak
Conflict of laws0/70.00%3.00%27Weak
E-commerce1/3 (33.33%)33.33%18.00%33Strong
Franchising0/10.00%0.00%1Average
Leasing/Factoring0/20.00%5.00%13Weak
Principles, trade usages and standards0/20.00%0.00%1Average
Procurement0/40.00%3.00%31Weak
Sale of Goods1/5 (20.00%)45.45%25.00%29Strong
Travel contracts0/10.00%3.00%7Weak
Total214.49%9.00%37Strong
 
CUSTOMSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Customs Codification2/3 (66.67%)100.00%78.00%1Strong
Customs Cooperation1/6 (16.67%)33.33%26.00%71Strong
Exemption from Duties3/9 (33.33%)25.93%30.00%89Weak
Temporary Admission6/11 (54.55%)52.94%28.00%42Strong
Transit1/4 (25.00%)27.27%28.00%62Weak
Total1341.30%31.00%60Strong
 
DISPUTE RESOLUTIONInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Arbitration2/6 (33.33%)50.00%32.00%29Strong
Judicial cooperation3/5 (60.00%)78.95%36.00%42Strong
Recognition of foreign judgments0/20.00%2.00%6Weak
State court jurisdiction0/40.00%14.00%29Weak
State court procedure0/10.00%6.00%12Weak
State immunities 0/10.00%11.00%22Weak
Total550.00%29.00%44Strong
 
ENVIRONMENT AND PRODUCTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Air4/5 (80.00%)80.00%86.00%59Weak
Chemicals1/1 (100.00%)100.00%78.00%1Strong
Energy0/20.00%25.00%50Weak
Flora and fauna9/10 (90.00%)89.13%68.00%17Strong
Foodstuff2/2 (100.00%)100.00%79.00%1Strong
General1/1 (100.00%)100.00%95.00%1Weak
International watercourses0/10.00%18.00%36Weak
Maritime and Law of the Sea19/26 (73.08%)79.35%46.00%28Strong
Protected geographical areas 1/1 (100.00%)100.00%27.00%1Strong
Waste1/1 (100.00%)100.00%93.00%1Weak
Total3883.33%61.00%21Strong
 
FINANCE, PAYMENTS AND INSOLVENCYInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Assignment of receivables0/10.00%1.00%2Weak
Bankruptcy and insolvency1/1 (100.00%)100.00%21.00%1Strong
Bills of exchange and promissory notes0/40.00%8.00%43Weak
Cheques0/30.00%13.00%36Weak
Credit transfers0/10.00%0.00%1Average
International guarantees0/30.00%20.00%75Weak
Total112.20%12.00%85Weak
 
GOOD GOVERNANCE Inst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Corruption3/4 (75.00%)75.00%50.00%6Strong
Cultural Property2/4 (50.00%)50.00%54.00%61Weak
Drugs3/3 (100.00%)100.00%95.00%1Weak
Insider Trading0/10.00%4.00%9Weak
Organized crime2/2 (100.00%)100.00%80.00%1Strong
Total1076.92%68.00%50Strong
 
HUMAN RIGHTS AND LABOUR STANDARDSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Human Rights7/7 (100.00%)100.00%96.00%1Weak
Labour Standards7/8 (87.50%)87.50%86.00%134Weak
Total1493.33%91.00%126Weak
 
INSTITUTIONAL PARTICIPATIONInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Dispute Resolution1/1 (100.00%)100.00%39.00%1Strong
International Trade Law 10/10 (100.00%)100.00%73.00%1Strong
Trade support institutions6/6 (100.00%)100.00%51.00%1Strong
Total17100.00%63.00%1Strong
 
INTELLECTUAL PROPERTYInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Broadcasting1/1 (100.00%)100.00%47.00%1Strong
Copyright3/3 (100.00%)100.00%65.00%1Strong
Industrial designs2/2 (100.00%)100.00%31.00%1Strong
Integrated circuits0/10.00%2.00%4Weak
Neighboring Rights3/3 (100.00%)100.00%46.00%1Strong
Origin0/30.00%14.00%51Weak
Patents4/5 (80.00%)85.71%57.00%30Strong
Trademarks5/6 (83.33%)86.36%33.00%20Strong
Varieties of plants1/1 (100.00%)100.00%37.00%1Strong
Total1983.16%42.00%25Strong
 
INVESTMENTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Investment disputes1/2 (50.00%)50.00%39.00%2Strong
Investment guaranty1/1 (100.00%)100.00%93.00%1Weak
Total266.67%57.00%2Strong
 
PRODUCTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Marine Resources1/1 (100.00%)100.00%24.00%1Strong
Timber1/1 (100.00%)100.00%31.00%1Strong
General1/1 (100.00%)100.00%92.00%1Weak
Total3100.00%53.00%1Strong
 
TRANSPORT AND TELECOMMUNICATIONSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Air transport3/7 (42.86%)52.38%59.00%110Weak
Aircrafts and civil aviation 5/9 (55.56%)76.00%74.00%80Weak
Maritime shipping and load lines 10/13 (76.92%)85.71%66.00%55Strong
Maritime transport3/12 (25.00%)20.83%27.00%103Weak
Multi modal transport 0/20.00%4.00%15Weak
Rail transport0/30.00%22.00%50Weak
Road transport0/40.00%31.00%86Weak
Space3/4 (75.00%)83.33%40.00%16Strong
Telecommunications2/2 (100.00%)100.00%47.00%1Strong
Total2651.35%50.00%92Weak
 
TREATIES LAWInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
General1/4 (25.00%)41.67%30.00%41Strong
Total141.67%30.00%41Strong
 
WTOInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Plurilateral Agreements1/2 (50.00%)50.00%18.00%26Strong
WTO Agreements1/1 (100.00%)100.00%81.00%1Strong
Total272.73%47.00%26Strong
 
Strong
ContractsE-commerce
ContractsSale of Goods
CustomsCustoms Codification
CustomsCustoms Cooperation
CustomsTemporary Admission
Dispute resolutionArbitration
Dispute resolutionJudicial cooperation
Environment and productsChemicals
Environment and productsFlora and fauna
Environment and productsFoodstuff
Environment and productsMaritime and Law of the Sea
Environment and productsProtected geographical areas
Finance, payments and insolvencyBankruptcy and insolvency
Good Governance Corruption
Good Governance Organized crime
Institutional ParticipationDispute Resolution
Institutional ParticipationInternational Trade Law
Institutional ParticipationTrade support institutions
Intellectual propertyBroadcasting
Intellectual propertyCopyright
Intellectual propertyIndustrial designs
Intellectual propertyNeighboring Rights
Intellectual propertyPatents
Intellectual propertyTrademarks
Intellectual propertyVarieties of plants
InvestmentsInvestment disputes
ProductsMarine Resources
ProductsTimber
Transport and telecommunicationsMaritime shipping and load lines
Transport and telecommunicationsSpace
Transport and telecommunicationsTelecommunications
Treaties lawGeneral
WTOPlurilateral Agreements
WTOWTO Agreements
 
Average
ContractsFranchising
ContractsPrinciples, trade usages and standards
Finance, payments and insolvencyCredit transfers
 
Weak
ContractsAgency
ContractsConflict of laws
ContractsLeasing/Factoring
ContractsProcurement
ContractsTravel contracts
CustomsExemption from Duties
CustomsTransit
Dispute resolutionRecognition of foreign judgments
Dispute resolutionState court jurisdiction
Dispute resolutionState court procedure
Dispute resolutionState immunities
Environment and productsAir
Environment and productsEnergy
Environment and productsGeneral
Environment and productsInternational watercourses
Environment and productsWaste
Finance, payments and insolvencyAssignment of receivables
Finance, payments and insolvencyBills of exchange and promissory notes
Finance, payments and insolvencyCheques
Finance, payments and insolvencyInternational guarantees
Good Governance Cultural Property
Good Governance Drugs
Good Governance Insider Trading
Human Rights and Labour StandardsHuman rights
Human Rights and Labour StandardsLabour Standards
Intellectual propertyIntegrated circuits
Intellectual propertyOrigin
InvestmentsInvestment guaranty
ProductsGeneral
Transport and telecommunicationsAir transport
Transport and telecommunicationsAircrafts and civil aviation
Transport and telecommunicationsMaritime transport
Transport and telecommunicationsMulti modal transport
Transport and telecommunicationsRail transport
Transport and telecommunicationsRoad transport

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