co, and Seattle;

US--Ambassador Donald P. GREGG; Embassy at 82 Sejong-Ro,
Chongro-ku, Seoul (mailing address is APO San Francisco 96301);
telephone [82] (2) 732-2601 through 2618; there is a US Consulate
in Pusan

_#_Flag: white with a red (top) and blue yin-yang symbol in the
center; there is a different black trigram from the ancient I Ching
(Book of Changes) in each corner of the white field

_*_Economy
_#_Overview: The driving force behind the economy's dynamic growth
has been the planned development of an export-oriented economy in a
vigorously entrepreneurial society. Real GNP--which grew by 6.7% in 1989
after an average annual growth of over 12% between 1986-88--grew about
9% in 1990. Labor unrest--which led to substantial wage hikes in
1987-88--was noticeably calmer in 1990, unemployment averaged a low
2.5%, and investment was strong. Inflation rates, however, are beginning
to challenge South Korea's strong economic performance. Consumer prices
rose 8.6%, the highest rate in nine years. Policymakers are concerned
higher prices could lead to a resurgence of labor unrest.

_#_GNP: $238 billion, per capita $5,600; real growth rate 9% (1990
est.)

_#_Inflation rate (consumer prices): 8.6% (1990)

_#_Unemployment rate: 2.5% (1990)

_#_Budget: revenues $38 billion; expenditures $38 billion,
including capital expenditures of $NA (1991)

_#_Exports: $65 billion (f.o.b., 1990);

commodities--textiles, clothing, electronic and electrical
equipment, footwear, machinery, steel, automobiles, ships, fish;

partners--US 30%, Japan 19%

_#_Imports: $70 billion (c.i.f., 1990);

commodities--machinery, electronics and electronic equipment, oil,
steel, transport equipment, textiles, organic chemicals, grains;

partners--Japan 27%, US 24% (1990)

_#_External debt: $31.7 billion (1990)

_#_Industrial production: growth rate 8.6% (1990 est.); accounts for
about 45% of GDP

_#_Electricity: 21,000,000 kW capacity; 85,000 million kWh produced,
1,970 kWh per capita (1990)

_#_Industries: textiles, clothing, footwear, food processing,
chemicals, steel, electronics, automobile production, ship building

_#_Agriculture: accounts for 11% of GNP and employs 21% of work force
(including fishing and forestry); principal crops--rice, root crops,
barley, vegetables, fruit; livestock and livestock products--cattle,
hogs, chickens, milk, eggs; self-sufficient in food, except for wheat;
fish catch