QUOTE
Economic indicators
South Korea has shown spectacular growth over the past 30 years (its per capita income was USD 100 in 1963 which have exceeded USD 18,000 in 2006). South Korea is now the 11th largest economy in the world. However, the growth potential of the economy has fallen due to structural problems, underdeveloped financial markets, rising household debt and aging of the population. A general lack of regulatory transparency is also a key concern for foreign investors. Annual GDP growth reached 4.9% in 2007, higher than the BOK's earlier growth forecast of 4.8%, but a slowdown from 5% in 2006.
South Korea has shown spectacular growth over the past 30 years (its per capita income was USD 100 in 1963 which have exceeded USD 18,000 in 2006). South Korea is now the 11th largest economy in the world. However, the growth potential of the economy has fallen due to structural problems, underdeveloped financial markets, rising household debt and aging of the population. A general lack of regulatory transparency is also a key concern for foreign investors. Annual GDP growth reached 4.9% in 2007, higher than the BOK's earlier growth forecast of 4.8%, but a slowdown from 5% in 2006.
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