South Korea

South Korea achieves world-class health metrics, demonstrated by a very high life expectancy and an extremely low infant mortality rate, comparable to the best OECD nations. This success is supported by significant investment, with health expenditure nearing 10% of GDP.

The inflation rate of nearly 3.6% in 2023 is significant, especially when compared to the modest 1.58% GDP growth rate. This suggests that price increases are outpacing economic output growth, potentially eroding consumer purchasing power and requiring careful monetary management.

South Korea presents an interesting environmental contrast: despite being highly urbanized (over 81% of the population lives in cities), it retains a vast forest cover. Over 64% of the land area is forested, reflecting successful conservation efforts alongside intense industrial development.

Despite global economic headwinds, South Korea maintains a robust economic profile characterized by a high GDP per capita and an exceptionally low unemployment rate. The moderate GDP growth suggests the economy is maturing and stabilizing, avoiding major labor market disruptions.