Republic of Korea
- Abstract
- Summary
- Comparative Statistical Analysis
- Strengths and Weakness
- Instruments ratifications
- Historical Data
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Wikipedia Country Information
South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korean Peninsula and sharing a land border with North Korea. Its western border is formed by the Yellow Sea, while its eastern border is defined by the Sea of Japan. South Korea claims to be the sole legitimate government of the entire peninsula and adjacent islands. It has a population of 51.75 million, of which roughly half live in the Seoul Capital Area, the fifth largest metropolis in the world. Other major cities include Incheon, Busan, and Daegu.
The Korean Peninsula was inhabited as early as the Lower Paleolithic period. Its first kingdom was noted in Chinese records in the early 7th century BCE. Following the unification of the Three Kingdoms of Korea into Silla and Balhae in the late 7th century, Korea was ruled by the Goryeo dynasty (918–1392) and the Joseon dynasty (1392–1897). The succeeding Korean Empire was annexed in 1910 into the Empire of Japan. Japanese rule ended following the former's surrender in World War II, after which Korea was divided into two zones; a northern zone occupied by the Soviet Union and a southern zone occupied by the United States. After negotiations on reunification failed, the latter became the Republic of Korea in August 1948 while the former became the socialist Democratic People's Republic of Korea the following month.
In 1950, a North Korean invasion began the Korean War, which saw extensive American-led United Nations intervention in support of the South, while China intervened to support the North, with Soviet assistance. After the war's end in 1953, the country entered into a military alliance with the U.S., and its devastated economy began to soar, recording the fastest rise in average GDP per capita in the world between 1980 and 1990. Despite lacking natural resources, the nation rapidly developed to become one of the Four Asian Tigers based on international trade and economic globalization, integrating itself within the world economy with export-oriented industrialization; currently being one of the largest exporting nations in the world, along with having one of the largest foreign-exchange reserves in the world. The June Democratic Struggle led to the end of authoritarian rule in 1987 and the country is now considered among the most advanced democracies in Asia, with the highest level of press freedom on the continent.South Korea is a developed country and is ranked as the seventh-highest country on the Human Development Index (HDI) in the Asia and Oceania region. South Korea has the third-highest life expectancy in the world. In recent years, the country has been facing an aging population and the lowest fertility rate in the world. Its economy ranks as the world's twelfth-largest by nominal GDP. Its citizens enjoy one of the world's fastest Internet connection speeds and the densest high-speed railway network. The country is the world's ninth-largest exporter and ninth-largest importer. Its armed forces is ranked as one of the world's strongest militaries and is the world's second-largest standing army by military and paramilitary personnel. Since the 21st century, South Korea has been renowned for its globally influential pop culture, particularly in music (K-pop), TV dramas and cinema, a phenomenon referred to as the Korean Wave. It is a member of the OECD's Development Assistance Committee, the G20, and the Paris Club.
Instruments ratified: | 153 / 282 |
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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 |
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 |
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 |
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