Korea, South

At the end of World War II, the Allied victors released Korea from Japanese occupation. With Soviet troops in the northern half of the peninsula, and U.S. troops occupying the south, the onset of the Cold War resulted in the division of the country into two separate states, North Korea and South Korea. After an invasion by the north, thwarted with U.S. and United Nation (UN) forces, the armistice [Page 991]of 1953 established the Republic of Korea (South Korea) with a northern border along the 38th parallel. Through close government and business cooperation and strategic planning, over the last several decades, South Korea has transformed itself from one of the poorest economies in the world to a trillion-dollar economy. With a per capita income of ...