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South Korea
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Location:
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Eastern Asia, southern half of the Korean Peninsula
bordering the Sea of Japan and the Yellow Sea |
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Background:
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After World War II, a republic was set up in the
southern half of the Korean Peninsula while a
Communist-style government was installed in the
north. During the Korean War (1950-1953), US and
other UN forces intervened to defend South Korea
from North Korean attacks supported by the Chinese.
An armistice was signed in 1953, splitting the
Peninsula along a demilitarized zone at about the
38th parallel. Thereafter, South Korea achieved
rapid economic growth with per capita income rising
to roughly 20 times the level of North Korea. South
Korea has maintained its commitment to democratize
its political processes. In June 2000, a historic
first North-South summit took place between the
South's President KIM Dae-jung and the North's
leader KIM Chong-il. |
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Languages:
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Korean, English widely taught in junior high and
high school |
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Exchange rates:
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South Korean won per US dollar - 1,251.09 (2002),
1,290.99 (2001), 1,130.96 (2000), 1,188.82 (1999),
1,401.44 (1998) |
North Korea
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Location:
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Eastern Asia, northern half of the Korean Peninsula
bordering the Korea Bay and the Sea of Japan,
between China and South Korea |
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Background:
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Following World War II, Korea was split, with the
northern half coming under Communist domination and
the southern portion becoming Western-oriented. KIM
Chong-il has ruled North Korea since his father and
the country's founder, president KIM Il-song, died
in 1994. After decades of mismanagement, the North
relies heavily on international food aid to feed its
population while continuing to expend resources to
maintain an army of about 1 million. North Korea's
long-range missile development and research into
nuclear, chemical, and biological weapons and
massive conventional armed forces are of major
concern to the international community. In December
2002, North Korea repudiated a 1994 agreement that
shut down its nuclear reactors and expelled UN
monitors, further raising fears it would produce
nuclear weapons. |
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Exchange rates:
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official: North Korean won per US dollar - 150
(December 2002), 2.15 (December 2001), 2.15 (May
1994), 2.13 (May 1992), 2.14 (September 1991), 2.1
(January 1990); market: North Korean won per US
dollar - 300-600 (December 2002), 200 (December
2001) |
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