Korea becomes 10th largest economy

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Korea becomes 10th largest economy


July 8, 2005


South Korea has become the world's 10th largest economy in terms of the gross domestic product (GDP) in 2004, overtaking Mexico.

South Korea posted $668.1 billion of GDP in 2004, nudging Mexico with $660.8 billion to the 11th, according to the "Main Economic Indicators, May 2005" published by the Organization for Economic Cooperation and Development (OECD). Korea rose one notch to ninth among the 30 OECD members in 2004 from a year before. This is the first time Korea has ranked 10th in the OECD report.

The United Nations has already ranked Korea 10th in economic scale for 2004.

 

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