South Korea to sell 4 trillion won (about $3.4 billion) in Treasury bills in Sept.; 'sale of the bills can further help stabilize the management of state-controlled funds,' finance ministry says - @YonhapNews
South Korea ( listen), officially the Republic of Korea (Hangul: 대한민국; hanja: 大韓民國; RR: Daehan Minguk, listen; lit.The Republic of Great Han; ROK), and commonly referred to as Korea, is a sovereign state in East Asia, constituting the southern part of the Korean Peninsula. The name Korea is derived from the Kingdom of Goryeo, also spelled as Koryŏ. It shares land borders with North Korea to the north, and oversea borders with Japan to the east and China to the west. Roughly half of the country's 50 million people reside in the metropolitan area surrounding its capital, the Seoul Capital Area, which is the second largest in the world with over 25 million residents.
Korea was inhabited as early as the Lower Paleolithic period and its civilization began with the founding of Gojoseon. After the unification of the Three Kingdoms of Korea in 668, Korea enjoyed over a millennium of relative tranquility under dynasties lasting for centuries in which its trade, culture, literature, science and technology flourished. In 1910 it was annexed by the Japanese Empire, after whose surrender in 1945, Korea was divided into Soviet and U.S. zones of occupation, with the latter becoming the Republic of Korea in August 1948. The United Nations declared the Republic to be Korea's only lawful government, but a communist regime was soon set up in the North that invaded the South in 1950, leading to the Korean War that ended in 1953 with an armistice. Despite frequent clashes with North Korea, peace has since continued with the two agreeing to reunify peacefully and the South dominating inter-Korean politics as a regional power with the world's 10th largest defence budget.
Between 1962 and 1994, South Korea's tiger economy soared at an average of 10% annually, fueled by annual export growth of 20%, in a period called the "Miracle on the Han River" that rapidly and successfully transformed it into a high-income advanced economy and the world's 11th largest economy by 1995. Today, South Korea is the world's fifth largest exporter and seventh largest importer and member of the G-20 and OECD's Development Assistance Committee. Since the first free election in 1987, South Koreans have enjoyed high civil liberties and one of the world's most developed democracies, ranked second in Asia on the Democracy Index. Its pop culture also has considerable influence in Asia, and is expanding globally as a phenomenon often called the Korean Wave.
South Korea is East Asia's most developed country in the Human Development Index. Its citizens enjoy a very high standard of living, having Asia's highest median per-capita income and average wage with the 8th highest household income in the world. Globally, it ranks among the highest in education, quality of healthcare and ease of doing business. Benefiting from a highly skilled workforce, it leads OECD countries in student skills with the highest percentage of young adults holding a tertiary education degree. Driven by high-tech chaebols such as Samsung, Hyundai-Kia and LG, South Korea was named the world's most innovative country in the Bloomberg Innovation Index, ranking first in research and development spent per GDP and patents filed per GDP. With an advanced ICT sector adding by far the most value in the OECD, South Korea has the world's fastest Internet connection speed, ranking first in e-Government, 4G LTE penetration and second in ICT Development Index and smartphone usage.