ABSTRACT
Overview of the South Korean tourism industry The Republic of Korea (South Korea) has a population of 51 million people and is one of the most industrialized countries in Asia. It is often called the “second Japan”. South Korea’s GDP soared at an average of 10% annually 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. South Korea is presently the world’s fth largest exporter and seventh largest importer, and a G-20 and OECD member. Since the rst free election in 1987, South Koreans have enjoyed high levels of civil liberty. Its popular culture has considerable inuence 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. Driven by high-tech chaebols such as Samsung, the world’s largest technology company, Hyundai-Kia and LG, South Korea has one of the highest levels of research and development spending per unit of GDP (Choi & Ahn 2014).
