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Region in East Asia
Korea is a peninsular region in East Asia consisting of the Korean Peninsula, Jeju Island, and smaller islands. Since the end of World War II in Asia in 1945, it has been politically divided at or near the 38th parallel between North Korea and South Korea. Both countries proclaimed independence in 1948, and the two countries fought the Korean War from 1950 to 1953. The region is bordered by China to the north and Russia to the northeast, across the Amnok (Yalu) and Duman (Tumen) rivers, and is separated from Japan to the southeast by the Korea Strait.
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Nearly 80 percent of Korea’s first-half income growth went to companies and self-employed owners, while employee compensation accounted for just 16.5 percent.
The IMF projects Korea's potential growth rate will rise to 2.14% this year and 2.20% next year, its first back-to-back gain since 1987.