South Korea is a sovereign state in East Asia, constituting the southern part of the Korean Peninsula.[1] Highly urbanized at 92%,[2] South Koreans lead a distinctive urban lifestyle; half of them live in high-rises[3] concentrated in the Seoul Capital Area with 25 million residents[4] and the world's sixth-leading global city[5] with the fourth-largest economy[6] and seventh-most sustainable city in the world.[7]
Driven by a highly educated and skilled workforce, it has the world's eighth-highest median household income, the highest in Asia, and its singles in particular earn more than all G7 nations. Globally, it ranks highly in personal safety,[8] job security, and healthcare quality, with the world's third-highest health adjusted life expectancy and fourth-most efficient healthcare system.[9] It is the world's largest spender on R&D per GDP, leading the OECD in graduates in science and engineering[10] and ranking third in the Youth Wellbeing Index.[11] Home of Samsung, LG and Hyundai-Kia, South Korea was named the world's most innovative country in the Bloomberg Innovation Index,[12] ranking first in business R&D intensity and patents filed per GDP. As of 2014, it has the world's fastest Internet speed and highest smartphone ownership, ranking first in ICT Development, e-Government[13] and 4G LTE coverage.
For further information on the types of business entities in this country and their abbreviations, see "Business entities in South Korea".
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