S. Korea

Constitution

On July 17, 1948, the first Constitution of the Republic of Korea was adopted. As the nation underwent political upheavals in pursuit of democratic development, the Korean Constitution has been amended nine times, the last time on October 29, 1987.

The current Constitution represents a major advancement in the direction of full democratization. Apart from a legitimate process of revision, a number of substantive changes are notable. They include the curtailment of presidential powers, the strengthening of the power of the legislature and additional devices for the protection of human rights. In particular, the creation of a new, independent Constitutional Court played a vital role in making Korea a more democratic and free society.

The Constitution consists of a preamble, 130 articles, and six supplementary rules. It is divided into 10 chapters: General Provisions, Rights and Duties of Citizens, the National Assembly, the Executive, the Courts, the Constitutional Court, Election Management, Local Authority, the Economy, and Amendments to the Constitution.

The basic principles of the Korean Constitution include the sovereignty of the people, separation of powers, the pursuit of peaceful and democratic unification of South and North Korea, the pursuit of international peace and cooperation, the rule of law and the responsibility of the state to promote welfare.

Constitutional amendment requires special procedures different from other legislation. Either the President or a majority of the National Assembly may submit a proposal for constitutional amendment. An amendment needs the concurrence not only of the National Assembly but also of a national referendum. The former requires support of two-thirds or more of the National Assembly members, while the latter requires more than one half of all votes cast by more than one half of eligible voters in a national referendum.

Economic Growth

Korea rapidly recovered from the economic storm that began in late 1997. This crisis, which roiled markets all across Asia, had threatened Korea's remarkable economic achievements. However, thanks to the faithful implementation of an IMF agreement, the Korean Government's strong resolve for reform, and successful negotiation of foreign debt restructuring with creditor banks, the nation rebounded and is now stronger than ever economically. Since the onset of the crisis, Korea began rapidly integrating itself into the world economy. The goal of the nation is to overcome problems rooted in the past by creating an economic structure suitable for an advanced economy.

Korea, once known to be one of the world's poorest agrarian societies, has undertaken economic development in earnest since 1962. In less than four decades, it achieved what has become known as the "Miracle on the Hangang River"―an incredible process that dramatically transformed the Korean economy while marking a turning point in Korea's history.

An outward-oriented economic development strategy, which used exports as the engine of growth, contributed greatly to the radical economic transformation of Korea. Based on such a strategy, many successful development programs were implemented. As a result, from 1962 to 2007, Korea's Gross Domestic Product (GDP) increased from US$2.3 billion to US$969.9 billion, with its per capita GNI soaring from $87 to about $20,045. These impressive figures clearly indicate the magnitude of success that these economic programs have brought about.

Major import items include industrial raw materials such as crude oil and natural minerals, general consumer products, foodstuffs and goods such as machinery and electronic and transportation equipment.

Korea developed rapidly from the 1960s, fueled by high savings and investment rates, and a strong emphasis on education. The nation became the 29th member country of the Organization for Economic Cooperation and Development (OECD) in 1996.

Travel Advice

Visas: Most tourists can visit Korea for 15 days without a visa, provided they have a return ticket upon entry.

Many nationals may stay for longer periods, one to six months, without visas under reciprocity agreements between Korea and their governments.

Visitors planning to work or reside in Korea for longer periods must have a visa before entry and obtain an alien registration card from a local immigration office within 90 days of arrival.

For more info on visa regulations, click here

Currency: Korea's currency is the won, which comes in 1,000, 5,000 and 10,000 won bills, and 10, 50, 100 and 500 won coins.

Generally, banks are open between 09:30-16:30 Monday through Friday.

Automated teller machines are in operation 24 hours a day. Most larger stores, hotels and restaurants in Korea will accept major international credit cards.

However, it is advisable to carry some cash, since many smaller establishments and stores may not have credit card processing equipment.

Animal and Plant Quarantine: All imported animals, plants and their products are subject to quarantine at airports and ports of arrival at the time of entry.

Korea Travel Phone 1330 : When you need English assistance or travel information, just dial 1330, and a bilingual operator will offer you detailed information on tourist sites, transportation, restaurants, etc. You don't need to dial an area code if are you making the call from a landline phone, but if you are calling from a cell phone or abroad, you need to press an area code. When you want information about areas outside of Seoul, enter the area code of that region before pressing 1330. If you want to reach the number from abroad, press 82(country code)-Area code-1330. Be sure to drop 0 in front of the area code.