The GDP of South Korea is $442.5 billion and the per-capita income $12,390. About two fifths of South Korea's people (total population: 46 million) work in agriculture, forestry, or fishing. The top income tax rate is 40%, the average rate 10%. The top corporate income tax rate is 28%. The capital gains tax is 28% and a resident surtax starts at 10%.

The total fleet was 8.8 million in 1998: 7.9 million passenger cars, 1.9 million trucks, and 631,000 buses. Only 108,000 of the 7.9 million units are more than 10 years old. The Korean automobile industry as a whole, including parts and manufacturing, have a total of 181 joint ventures as of 1995 with many countries and companies around the world. Japanese investments account for 98 in total while the United States has 38 and Germany 16.

Korea's automobile industry is focusing on expanding direct investments into the following countries: India, Indonesia, Vietnam, Malaysia, Philippines, Egypt, Turkey, Uzbekistan, Iran, Poland. Special focus is on Yantai, China; Kaliningrad, Russia; and Venezuela.

Passenger Car Production, by Manufacturer
(thousands of units)

Manufacturer 1998 2002 2005 Hyundai 800 950 1000 Daewoo 500 560 550 Kia/Hyundai 360 430 460 Samsung 34 215 350 Asia 3 2 2 Ssangyong 0 0 0 Total 1,697 2,157 2,362

Country profiles were provided by Raymond Champagne